It feels like the big players are holding off with their activities till the Fed announcement tomorrow.
As a precaution, I purchased SPY put expiring in May just in case the market won't like Powell's words.
In relation to my INTC debit trade I closed my long position for a nice profit while kept my short position.
I have also closed my AMD position from yesterday with a healthy profit and opened another AMD position.
This time I selected the $65 put expiring in March as it gives me more time in case the earnings results are not favourable. The earnings took place after market close today and so far this trade looks promising.
The stats
Trade Type: Short Put
Strike: $65
Expiry: 17 Mar
Delta: 19
IV Rank: 27.8
Premium: $1.66
Cap Req: $657
Annualised Prof at Expiration: 205%
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.
Watch more here:
Closed:
https://www.tycoonitos.com/community/market-comments/daily-trades-20230130
Rolled:
https://www.tycoonitos.com/community/market-comments/daily-trades-20230124
Epic win!
Closed at $0.41 for an annualised profit of 6944%.