We entered into a short put as a “hedge” on our OXY trade. We ended up “rolling up” our covered calls in OXY last week. We left the puts because we liked the setup. We are taking profits in it today.
Buy to close: OXY Oct 20th (monthly) 64.00 strike put
Debit: 0.50Â – this order has filled
This locks-in a profit of +1.00 or $100.00 overall on the hedge
We entered into a new bullish trade idea in PLTR as follows:
Buy to open: PLTR Nov 17th (monthly) 17.00 strike call (ratio of 1)
Sell to open: PLTR Nov 17th (monthly) 20.00 strike call (ratio of 2)
Buy to open: PLTR Nov 17th (monthly) 23.00 strike call (ratio of 1)
Debit: 0.70Â – this order has filled
Max risk = 0.70 per spread or $140 overall at 2 contracts
Max reward = 2.30 per spread or $460 overall at 2 contracts