Small Account Trader PRO Alert: Roll SPY Short Options

The market opened higher this morning, sold off, and is still trying to find a direction. Our SPY short options expire tomorrow (30 Nov). Let’s roll them out two weeks but keep them strike-to-strike for a good chunk of credit. That should leave enough width between our strikes on the P&L graph to manage the position for now.

 

TRADE ROLL

 

SPDR S&P 500 ETF (SPY):  395.05

 

TRADE ACTION 1: ROLL the SPY 30 Nov 376 put to the 14 Dec 376 put for a net credit of around 1.60

BTC the SPY 30 Nov 376 put

STO the SPY 14 Dec 376 put

 

TRADE ACTION 2:  ROLL the SPY 30 Nov 405 call to the 14 Dec 405 call for a net credit of around 2.95

BTC the SPY 30 Nov 405 call

STO the SPY 14 Dec 405 call

 

The Master Portfolio is trading 3 contracts.