Trade Alert 8/8/2023

We got filled today to close the butterfly on SQ for a profit as follows: 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 – this order has filled Profit of $0.95 per spread In addition, we added a new 1×2 put spread in Target (TGT). Earnings are out next week before expiration. This trade requires being willing to own 100 shares, details as follows: Buy to open: TGT Aug 18th (monthly) 125.00 strike put (ratio of 1) Sell to open: TGT Aug 18th (monthly) 115.00 strike put (ratio of 2) Debit: 1.73 – this order has filled Max risk = owning 100 shares at a $106.73 cost basis Probable risk = 1.73 or $173.00 per spread Max reward = 8.27 or $827.00 per spread