Hello Investors,
A few changes today and a class on 1×2 put spreads and drawing risk graphs manually.
New Trades:
We decided to delay ownership of our additional BAC shares. We sold the 100 shares put to us over the weekend at 24.00 and sold an Aug 21st (monthly) 24.00 strike put for +1.05 in its place. We also sold some covered calls.
Sell: BAC 100 shares
Sold Aug 21st (monthly) 24.00 strike put x1
Sold Aug 21st (monthly) 27.50 strike call x2 (covered call)
We took profits on our PINS call spread for 3.20 credit. This locked in a profit of +1.30 per spread. We used that income to buy 5 shares of the stock. We also entered into a new 1×2 put spread in PINS to potentially acquire more stock.
Sold PINS Aug 2st (monthly) 21.00/26.00 call spread for +3.20 credit.
Bought Aug 21st (monthly) 25.50 strike put x1
Sold Aug 21st (monthly) 23.50 strike put x2
Credit: 0.40
Have a great week!