Below are the trades from today’s Income Madness Live Trading Session.
Action on Existing Position
I am recommending we book profits on our Block (SQ) and Zoom Video Communications (ZM) puts.
SQ Dec Week Two (12/9) 58 Put
Current Stock Price: $63.56
Cash in Hand: $0.44
Action: Buy to close the SQ Dec Week Two (12/9) 58 Put for around $0.09, but adjust as needed to close today
Profit: $0.35, or $35 per contract
ZM Dec Week Two (12/9) 69 Put
Current Stock Price: $71.38
Cash in Hand: $0.51
Action: Buy to close the ZM Dec Week Two (12/9) 69 Put for around $0.29, but adjust as needed to close today
Profit: $0.22, or $22 per contract
New Trades
TRADE ONE: Sell to open Toll Brother (TOL) Dec Monthly (12/16) 46 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: $49.72)
TRADE TWO: Sell to open Roku (ROKU) Dec Monthly (12/16) 45 Put for around $0.41. You can go as low as $0.36, but please don’t start there and always use limit orders. (Current stock price: $53.09)
TRADE THREE*: Sell to open the Microsoft (MSFT) Dec Monthly (12/16) 220 Put for around $0.32 and buy to open MSFT Dec Monthly (12/16) 210 Put for around $0.12. Set initial credit limit at $0.20. (Current stock price: $246.44)
*If you are new to spread trading, please watch my Bull Put Spread Coaching Session before entering the trade.