We were cautious this week ahead of the September consumer price index report. It tanked the market like the August report, with a core CPI reading that was the highest in four decades. Unlike last time, though, stocks came roaring back to close the session higher.
Now that CPI is behind us, let’s put some money to work with two new trades.
TRADE ONE: Sell to open Devon Energy (DVN) Oct Monthly (10/21) 63 Put for around $0.42. You can go as low as $0.36, but please don’t start there and always use limit orders. (Current stock price: $69.33)
TRADE TWO: Sell to open Gilead Sciences (GILD) Oct Monthly (10/21) 65 Put for around $0.44. You can go as low as $0.37, but please don’t start there and always use limit orders. (Current stock price: $66.67)