Since our next Live Trading Session is not until Tuesday, Aug. 25, I am putting on two new positions via alert.

TRADE ONE: Sell to open the JPMorgan Chase (JPM) Aug Monthly (8/21) 97.50 Put for around $0.77. You can go as low as $0.68, but please don’t start there and always use limit orders. (Current stock price: $98.15)

TRADE TWO*: Buy to open the Microsoft (MSFT) Oct Monthly (10/16) 200 Call for around $16.65 and sell to open the MSFT Aug Week Four (8/28) 215 Call for around $1.65. Set your initial debit limit at $15. (Current stock price: $210.48)

*If you are new to this kind of spread trading, please watch my LEAPS Call Spreads Coaching Session before making the trade.