Below are the trades from today’s Income Madness Live Trading Session.
Action on Existing Position
I am recommending we close our Peloton Interactive (PTON) spread.
Current Stock Price: $167.53
Cash in Hand: $0.59
Action:
- Buy to close the PTON Jan Week Four (1/22) 130 Put for around $0.29
- Sell to close the PTON Jan Week Four (1/22) 120 Put for around $0.18
- Set initial debit limit at $0.11, but adjust as needed to close today
Profit: $0.48, or $48 per spread
New Positions
TRADE ONE: Sell to open the Chewy (CHWY) Jan Monthly (1/15) 107 Put for around $0.63. You can go as low as $0.57, but please don’t start there and always use limit orders. (Current stock price: $112.26)
TRADE TWO: Sell to open the General Motors (GM) Jan Monthly (1/15) 47.50 Put for around $0.35. You can go as low as $0.30, but please don’t start there and always use limit orders. (Current stock price: $48.67)
TRADE THREE: Sell to open the Crocs (CROX) Jan Monthly (1/15) 75 Put for around $0.75. You can go as low as $0.60, but please don’t start there and always use limit orders. (Current stock price: $77.21)
