A couple of changes to the portfolio today. We have taken profits on the remainder of our CCJ put spreads. These were protective spreads and have worked out well. The details below:
Sell to close: CCJ March 21st (monthly) 45.00 strike put
Buy to close: CCJ March 21st (monthly) 40.00 strike put
Credit: 2.63
We paid 0.99 for 2 spreads for $198.00 of cost. We have now exited both spreads for a total credit of $502.00 coming back in.
The result is a profit of +$304.00 total. That is an average of +152.00 per spread or a +153.50% Return on the spreads.We have entered into a longer-dated bearish spread in GOOG. The stock has been lagging the big tech names and we expect it to continue.
Buy to open: GOOG Sep 19th (monthly) 165.00 strike put (ratio of 1)
Sell to open: GOOG Sep 19th (monthly) 145.00 strike put (ratio of 2)
Buy to open: GOOG Sep 19th (monthly) 125.00 strike put (ratio of 1)
Debit: 3.07
Max risk = 3.07 or $307.00 per spread
Max reward = 16.93 or $1,693.00 per spread