Hello Investors,
Today we took profits on 1/2 of our XLK trade (closed 1 of 2 contracts). We have an average cost of 4.38 per spread. We closed the position for 4.95 credit and a +0.57 profit. The other 1/2 position we want to have a breakeven stop loss and move out if it isn’t working as expected.
Sold to close: XLK Sep 18th (monthly) 102.00 strike put
Bought to close: XLK July 17th (monthly) 95.00 strike put
Credit: 4.95
We also had a couple of discussions. One was planned (long options vs spreads vs butterflies) and the one was unplanned (dividends).
We will be back on Friday for our Monthly Options Expiration class at the usual 10:00 a.m. ET.
Have a great week!