Rocket Equities & Options Report 10-20-23 Close SPY Put Spread
We are closing our SPY $435 - $415 Put Spread, which expires next Friday October 27th. This market has a nice flush to the downside going, and while I expect lower prices next week coming into the Fed Decision on November 1st, we are taking a nice profit here.
Last month, we bought a $435 - $415 SPY Oct 27th Debit put spread for about $4.65 per contract pair, and it is currently trading near $11. Sell to close the Put spread as of this update.
The SPY just traded down from 438.14 on Tuesday, to 422.08 this morning, that's almost a 3.7% pull back in the last 72 hours. We are taking our profits and will look for more opportunities next week a this market volatility is not ending anytime soon.
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