Below are the trades from today’s Income Madness Live Trading Session.
Action on Existing Position
I am recommending we close our Nike (NKE) put.
Current Stock Price: $151.79
Cash in Hand: $1.01
Action: Buy to close the NKE Oct Week Two (10/8) 152.50 Put for around $0.77, but adjust as needed to close today
Profit: $0.24, or $24 per contract
TRADE ONE: Sell to open the Marvell Technology (MRVL) Oct Monthly (10/15) 64 Put for around $0.73. You can go as low as $0.64, but please don’t start there and always use limit orders. (Current stock price: $65.15)
TRADE TWO: Sell to open The Trade Desk (TTD) Oct Monthly (10/15) 68 Put for around $0.87. You can go as low as $0.78, but please don’t start there and always use limit orders. (Current stock price: $70.33)
TRADE THREE*: Sell to open the Microsoft (MSFT) Oct Monthly (10/15) 285 Put for around $0.89 and buy to open MSFT Oct Monthly (10/15) 280 Put for around $0.52. Set initial credit limit at $0.37. (Current stock price: $294.81)
*If you are new to spread trading, please watch my Bull Put Spread Coaching Session before entering the trade.