Trade Alert 8/7/2023

In our meeting today, we discussed a few aspects of the market and made a few changes. We closed a “naked” put in OXY. This position has worked well as time/volatility have decayed over the past few months. We entered into a new “bear call credit” spread in ARKK. This is a trade that works well if the stock is sideways to lower over the coming months. And, we have an order to take profits on our SQ put butterfly if it hits our price. Bought back the short put in OXY and locked-in the profit. Buy to close: OXY Jan 19th (monthly) 55.00 strike put Debit: 1.63 – this order has filled This locks-in a profit of +252.00 overall Entered into a new bear call spread trade in ARKK as follows: Sell to open: ARKK Jan 19th (monthly) 50.00 strike call Buy to open: ARKK Jan 19th (monthly) 55.00 strike call Credit: 1.30 – this order has filled Max reward = 1.30 or $130.00 per spread Max risk = 3.70 or $370.00 per spread This order is still pending to take profits: Sell to close:  SQ Dec 15th (monthly) 70.00 strike put (ratio of 1) Buy to close: SQ Dec 15th (monthly) 60.00 strike put (ratio of 2) Sell to close:  SQ Dec 15th (monthly) 50.00 strike put (ratio of 1) Credit:  2.25 – still pending order Profit of $0.95 per spread