Rocket - SPY Update 11-05-20
Place an order to close our SPY $349-$345 put debit spread
The SPY has now traded down $3 from its intra-day high of $352.19. We may continue to see volatility in both directions today. Place an order to sell our SPY debit spread at $2.50. This would result in a credit of $250 per contract if executed. If we get a fast move down in the SPY, we will take the 100% profit in this trade; we want the order in there ahead of time. We will need the SPY to trade below $347 to have a chance of getting executed.
Disclaimer: Trading in securities such as stocks, options, indexes, currencies, and futures involve risk and should not be undertaken without due diligence and serious independent study. Options, stocks, currencies and futures trading, involve substantial risk. Subscribers may carry out their trading based on what they learn from “Rocket Equities & Options” however all risks of potential financial losses are the customer’s responsibility. TFNN, Corp. will be in no way liable for financial losses resulting from trading decisions based on this newsletter. Past performance is no guarantee of future results. Reproduction in whole, or in part, is not permitted without prior written consent. Copyright 2020 all rights reserved.