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Income Masters Trade Alert: SPX

Our most recent S&P 500 (SPX) hedges — the SPX Oct Week Two (10/9) 2850 Put and the SPX Oct Week Two (10/9) 2850/2800 Put Spread — are on track to expire worthless tomorrow, so I am recommending new defensive positions.

We will continue to track them as ongoing positions, but you can initiate one of these hedges even if you were not in a previous one.

If you are new to this kind of hedging, please check out my Coaching Session on Hedging Your Portfolio.

Current Index Price: 3,437.95

SPX Put

Cash in Hand: $17.45

Action: Buy to open the SPX Oct Week Five (10/30) 3000 Put for around $4.55

New Cash in Hand: $12.90

SPX Bear Put Spread

Cash in Hand: $9

Action:

  • Buy to open the SPX Oct Week Five (10/30) 3000 Put for around $4.55
  • Sell to open the SPX Oct Week Five (10/30) 2950 Put for around $3.40
  • Set initial debit limit at $1.15

New Cash in Hand: $7.85

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