Hello Investors,
Today we discussed the passing of option expiration. The good, bad and ugly (spy bear call spread and dividend) of it all. In addition, we added a new trade in the VIX and sold multiple covered calls. The details are shown below:
Sold to open: APA Nov 15th (monthly) 30.00 strike call
Credit: 0.41
Sold to open: CCJ Nov 15th (monthly) 55.00 strike call
Credit: 1.00
Sold to open: CCJ Nov 15th (monthly) 60.00 strike call
Credit: 0.50
Sold to open: INTC Nov 15th (monthly) 26.00 strike call
Credit: 1.00
Sold to open: X Nov 15th (monthly) 47.00 strike call
Credit: 0.66
Sold to open: NUE Nov 15th (monthly) 175.00 strike call
Credit: 0.75 – this order is still pending
Buy to open: VIX Nov 20th (monthly) 20.00 strike call (ratio of 1)
Sell to open: VIX Nov 20th (monthly) 30.00 strike call (ratio of 2)
Buy to open: VIX Nov 20th (monthly) 40.00 strike call (ratio of 1)
Debit: 0.58
Max risk = 0.58 or $58.00 per spread
Max reward = 9.42 or $942.00 per spread
Have a great week!