I believe it's time to go short on the market.
I have already purchased SPY put option and will take further measures tomorrow.
My trade from yesterday produced an incredible 10k% profit and am hoping that my today's trade, which is very similar, will also be lucrative.
I also rolled my QQQ position to March and made an adjustment to my FIS position.
For those, who are new to my daily market comments, I place and document one of my options trades each day with the objective of helping everyone learn how to trade options.
What's my trade for today?
#Visa (#V) calendar spread. I sold the Jan 27 $222.50 put option and bought the April $225 put option.
The stats
Trade Type: Calendar: short Jan 27; long Apr
Strike: $Short $222.50 / Long $225
Expiry: 27 Jan
Delta: -10
IV Rank: 3.7
Premium: $-6.82
Cap Req: $682
Annualised Prof at Expiration: ?
IMPORTANT: Studying previous trades provide the opportunity to everyone to learn a great deal so I encourage you to click on the links below and digest the info.
Closed:
https://www.tycoonitos.com/community/market-comments/daily-trades-20230125
Rolled:
https://www.tycoonitos.com/community/market-comments/daily-trades-20230111
https://www.tycoonitos.com/community/market-comments/market-comments-20220421
Watch more here:
Let me know what you think.
This is a catch up post:
On 10/Feb, not long after I made the adjustment the tides turned my way and I was able to close this deal at $4.17 for an annualised profit of 112%.
It didn't work out as I originally planned but a win is a win.