Beauty of the Trade

Yesterday I placed -3 VERTICAL SPX 100 (Quarterlys) 30 JUN 21 4150/4140 PUT @.60 and today I placed -3 VERTICAL SPX 100 (Quarterlys) 30 JUN 21 4330/4340 CALL @.50.It’s been a while since I’ve placed call spreads but did so today and last week for my SPX Monthly trades too.

So to explain these trades, the first one is a put credit spread. Where you sell the 4150 strike and buy the 4140 strike for $.60 per contract. So it’s .60 x100 x 3. That gives me a credit of $180. My plan is to close it at .10. You can do the math from there. The second trade is a call credit spread and that is the opposite.

So as long as the market stays within 4330 and 4150 before Jun 30, I make a profit. So I don’t even need to know which way the market will go as long as it stays within the range that I mentioned before it expires. So while I wait, the options decay and that is the beauty of this trade.

Talk soon,

Al Losada

Founder |  SimpleOptionStrategies.com

P.S. For live trade alerts, please check out our SOS Trade Alerts. We will be opening to new subscribers on Aug 3rd, 2021.

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