Below are the trades from today’s Six-Figure-Portfolio Coaching Live Trading Session.
Action on Existing Position
I am recommending we close our Chewy (CHWY) put.
Current Stock Price: $48.89
Cash in Hand: $1.55
Action: Buy to close CHWY Jul Week Five (7/31) 47 Put for around $0.21
Profit: $1.34, or $134 per contract
TRADE ONE: Buy to open the S&P 500 (SPX) Aug Monthly (8/21) 2925 Put for around $11.75. (Current index price: 3,231.78)
Bear Put Spread: Buy to open the SPX Aug Monthly (8/21) 2925 Put for around $11.75 and sell to open the SPX Aug Monthly (8/21) 2875 Put for around $8.95. Set initial debit limit at $2.80.
TRADE TWO*: Buy to open the Microsoft (MSFT) Aug Week One (8/7) 195 Put for around $0.85. (Current stock price: $203.28)
*This is a protective put for those who own the MSFT Jun 2021 (6/18) 150/Aug Monthly (8/21) 210 Call Spread. The new cost basis for this position will be $56.