Trade Alert 8/6/2024

We have taken profits on our AAPL put butterfly. However, the plan will be to re-enter another put butterfly at lower strike for less cost in the coming days. In this way, our profit today will pay for most of the risk of the new trade. Essentially creating a risk-free trade. First, we are simply taking profits in this trade. Sell to close:  AAPL Oct 18th (monthly) 220.00 strike put (ratio of 1) Buy to close: AAPL Oct 18th (monthly) 200.00 strike put (ratio of 2) Sell to close: AAPL Oct 18th (monthly) 180.00 strike put (ratio of 1) Credit:  5.45 – this order has been filled Profit of $1.61 per spread We have a short put in EQT. That put has a nearly 100% probability of exercising us into the stock as originally planned. We have already taken profits in the long put strike. So, we are going to sell a covered call against that strike. This will allow us to generate a little bit of income against the position. If the stock recovers back above 33/share then we will likely “buy back” this call. The details are as follows: Sell to open: EQT Aug  16th (monthly) 33.00 strike call Credit: 0.23 – this order is pending and has not filled as of this update