NovWk4

Trade:
Sell: SPY NovWk4 CS 141/142 $0.05
Status: Filled on Monday 19 Nov
Expiry: 23 Nov
Contracts: 5
ROI: 2.95%

Analysis:

The SPY has gap up at the opening. A whopping USD 2+. As usual, I have been eye-balling the price movements and decided that tonight was going to be a make or break moment.

The reason is simple. This week is a short trading week. As it is with short trading weeks, there is a lot to do and not many opportunities to do it. Such is life.

Of course the reason is that markets would prepare for the holidays ahead. They might do all their buying and selling on Monday and remain quiet the whole week until expiry.

That may well be the case. It didn't take too long before my lightning fast mind decided to sell a call spread for a premium of $0.05. I decided that my strategy of queuing for a higher premium is not going to happen and I opted for an "easy way out" trade with a realistic premium, and I got it. Yay!