Trade Alert 8/30/2024

We have a short put on Apache (APA) and are adjusting the trade into a spread. This will reduce risk if the shares continue to fall as expected in the near term. Buy to open: APA Sep 20th (monthly) 30.00 strike put Debit: 1.78 – order has executed In addition, we have sold another covered call against our 100 shares owned of INTC. Now, we already have a short call but it is WAY OTM all the way up at the 38.00 strike. We could buy it back or even buy a lower strike call to hedge it. But we feel confident it will expire away in a couple of weeks on its own. Selling this covered call today allows us to double dip on the income. Sell to open: INTC Sep 20th (monthly) 24.00 strike call Credit: 0.27 – order has executed Lastly, we have purchased a speculative trade in MicroStrategy (MSTR). This could also be seen as a bearish trade on Crypto given their ownership of bitcoin. The details are as follows: Buy to open: MSTR Oct 18th (monthly) 120.00 strike put (ratio of 1) Sell to open: MSTR Oct 18th (monthly) 105.00 strike put (ratio of 2) Buy to open: MSTR Oct 18th (monthly) 90.00 strike put (ratio of 1) Debit: 2.10 – this is still a pending order (if not filled today then cancel) Max risk = 2.10 or $210.00 per spread Max reward = 12.90 or $1,290.00 per spread