Trade Alert 8/11/2023

We had poor timing on our initial “protective” butterfly positions in SPY and QQQ a few weeks ago. With the recent downturn, we can get some real value back from the SPY positions and will do that today. We will look to re-enter something similar at a later date but at much better strike prices. The details are as follows: Sell to close:  SPY Oct 20th (monthly) 420.00 strike put (ratio of 1) Buy to close: SPY Oct 20th (monthly) 390.00 strike put (ratio of 1) Sell to close:  SPY Oct 20th (monthly) 360.00 strike put (ratio of 1) Credit:  1.55 – this order is filled We bought this for 2.83 so the result is -$128.00 overall. Sell to close:  SPY Sep 15th (monthly) 420.00 strike put (ratio of 1) Buy to close: SPY Sep 15th (monthly) 390.00 strike put (ratio of 1) Sell to close:  SPY Sep 15th (monthly) 360.00 strike put (ratio of 1) Credit:  1.05 – this order is filled We bought this for 3.60 so the result is -$255.00 overall.