Trade Alert 4/24/2024

We waited to sell a covered call on GM with earnings this week and that worked out as the stock has jumped up a bit. Sell to open:  GM June 21st (monthly) 49.00 strike call Credit:  0.53 – this order has filled We added a 1×2 call spread to our 100 shares of WBA as follows: Buy to open: WBA July 19th (monthly) 20.00 strike call (ratio of 1) Sell to open: WBA July 19th (monthly) 22.50 strike call (ratio of 2) Debit: 0.18 – this order has filled This is done against 100 shares of stock which leaves everything covered. We exited a lot of our SPY protective positions last week. We closed 3 of the 4 contracts owned. That was certainly the right call as the values have plummeted further on this SPY bounce. We are adding 1 of those 3 back on today. We exited this for 3.90 credit and can re-enter for 1.73 debit. While it is not a highly probable spread, it has potential if another down draft takes place in the near future. Buy to open: SPY May 17th (monthly) 490.00 strike put Sell to open: SPY May 17th (monthly) 460.00 strike put Debit: 1.73 – this order has filled Max risk = 1.73 or $173.00 per spread Max reward = 28.27 or $2,827.00 per spread This still has a low probability of success but will provide some insurance against a bigger market downturn.