Trade Alert 11/29/2023

We were holding out for a better price on Monday trying to enter a put butterfly in SNOW on earnings. This morning the stock gapped higher (it reports tonight after the close) and we got a much better price than expected. Buy to open:  SNOW Dec 1st (weekly) 165.00 strike put (ratio of 1) Sell to open: SNOW Dec 1st (weekly) 150.00 strike put (ratio of 2) Buy to open:  SNOW Dec 1st (weekly) 135.00 strike put (ratio of 1) Debit: 2.25 – this order has filled Max risk = 2.25 or $225.00 per spread Max risk = 12.75 or $1,275.00 per spread We also bought 2 contracts of put butterfly spreads in CVS as follows: Buy to open:  CVS Jan 19th (monthly) 67.50 strike put (ratio of 1) Sell to open: CVS Jan 19th (monthly) 62.50 strike put (ratio of 2) Buy to open:  CVS Jan 19th (monthly) 57.50 strike put (ratio of 1) Debit: 0.87 – this order has filled Max risk = 0.87 or $87.00 per spread Max risk = 4.13 or $413.00 per spread