Ticker: SMH
Price: $151.71
Date: 5/31/23 10:45 pm EST
Underlying: Vaneck Semiconductor ETF

Est. Net Credit/Debit: $4000 debit

Master Portfolio Contracts: 10

Notes: With the debt ceiling still in limbo and SMH pulling back let’s start a new core trade in SMH. While we have not traded this in a while we have been testing it again for months and it is the second-best performer behind SPX. I was trying to set up a time twister but with the VIX lower it is hard to structure it correctly so let’s load a core trade and modify it as needed.

Trade Detail:

TRADE ACTION: Open a new diagonal for around 4.00 – 4.20 debit

BTO SMH 18 AUG 145 put
STO SMH 16 JUN 145 put

POSITION AFTER TRADE DETAIL:

+10 SMH 18 AUG 145 put
-10 SMH 16 JUN 145 put