Trade Findings and Adjustments 08-29-2019
Quick “rebound” trade following the market
Cash Covered Short Put.
Sept. 275 Strike for $2.26 of credit
Make sure you have the cash to cover the purchase of stock
275/265 Bull Put
275 Short Put for $2.26ish and 265 Long Put guessing about $1 for about 1.26 of net credit
The strategy is to lose credit on short options of around .30-.50 on a higher volatility week and 3 day weekend to bleed off credit.