OctWk1 - SPY Market Summary
The market looks promising, and I thought that I would venture out another trade since I was still in the game. I was looking for another trade, and honestly the only way forward is to take a risk and hunt for a trade.
Most of my peers were unable to locate or find a possible entry, but for me, it was like a clockwork-orange. Not to brag, but, nothing was as simple as the trade for OctWk1 for SPY. The decision was as clear as day, and I took an opportunity to sell the trade on Thursday.
I applied the same strategy as I had always applied, and that was the contingent on spread price reaching the cut loss spread price. Thankfully it didn't and I managed to bag the premium earned for that trade.
I sold a Put Spread for the SPY for $164.5/$165.5 for a premium of $0.06 on Thursday and then applied the same contingent order if price was less than $165.70.
Of course price went nowhere near that, and the trade expired worthless. The real return on investment for that trade was 3.95%. Sweet.
No comments:
Post a Comment