Rocket Trade Update SPY Put 01-05-20
Buying a Jan 8th SPY $368 put for a debit of about $3. The market has the possibility for a decent pull back this week if Democrats win the GA elections. This is buying an out of the money option and we lose everything if the SPY stays above $368 as of Friday. Our breakeven in the SPY is about $365. It's currently trading at $370.38. Taking a flyer on the possibility of the market accelerating lower by Friday. Keep your risk in check. Our max risk is about $300 per contract in this trade.