Below are the trades from today’s Income Madness Live Trading Session.
Action on Existing Position
I am recommending we book profits on Advanced Micro Devices (AMD).
Current Stock Price: $75.36
Cash in Hand: $0.77
Action: Buy to close the AMD May Monthly (5/21) 73 Put for around $0.27, but adjust as needed to close today
Profit: $0.50, or $50 per contract
New Positions
TRADE ONE: Sell to open the Western Digital (WDC) May Monthly (5/21) 72.50 Put for around $0.82. You can go as low as $0.70, but please don’t start there and always use limit orders. (Current stock price: $74.69)
TRADE TWO: Sell to open the SPDR S&P Biotech ETF (XBI) May Monthly (5/21) 127 Put for around $0.97. You can go as low as $0.83, but please don’t start there and always use limit orders. (Current stock price: $129.13)
TRADE THREE: Sell to open the YETI Holdings (YETI) May Monthly (5/21) 84 Put for around $0.80. You can go as low as $0.70, but please don’t start there and always use limit orders. (Current stock price: $86.06)
TRADE FOUR*: Sell to open the Roku (ROKU) May Monthly (5/21) 300 Put for around $0.86 and buy to open ROKU May Monthly (5/21) 290 Put for around $0.43. Set initial credit limit at $0.43. (Current stock price: $326.61).
*If you are new to spread trading, please watch my Bull Put Spread Coaching Session before entering the trade.
