Rocket Equities & Options Report 09-09-22
New Trade - SPY $406 Put expiring Sept 16th
We are going short the SPY with a slightly in-the-money SPY put that will expire next Friday.
Buy the $406 September 16th Put. It is trading at about $6.30 right now, or $630 per contract. Don't pay more than $7 for this contract.
We are bouncing right into the .382 of the recent move lower in the markets, and we are coming right into the huge day of August 26th when the SPY did over 100M shares.
We will look for a pullback next week, and there will still be some volatility premium in this option early next week if we don't like the action or it moves against us we may dump it early and take whatever premium is left.
Next week is CPI, and the following week is the Fed.
Stay tuned for updates!
Buy the $406 September 16th Put. It is trading at about $6.30 right now, or $630 per contract. Don't pay more than $7 for this contract.
We are bouncing right into the .382 of the recent move lower in the markets, and we are coming right into the huge day of August 26th when the SPY did over 100M shares.
We will look for a pullback next week, and there will still be some volatility premium in this option early next week if we don't like the action or it moves against us we may dump it early and take whatever premium is left.
Next week is CPI, and the following week is the Fed.
Stay tuned for updates!