Below are the trades from today’s Six-Figure-Portfolio Coaching Live Trading Session.
Action on Existing Position
I am recommending we close our Corning (GLW) put.
Current Stock Price: $30.17
Cash in Hand: $0.75
Action: Buy to close GLW Jul Week Five (7/31) 29 Put for around $0.07
Profit: $0.68, or $68 per contract
TRADE ONE: Buy to open the Microsoft (MSFT) Jun 2021 (6/18) 150 Call for around $58.45 and sell to open the MSFT Aug Monthly (8/21) 210 Call for around $3.30. (Cost basis: $55.15)
TRADE TWO: Sell to open the Lululemon Athletica (LULU) Aug Monthly (8/21) 300 Put for around $3.50. You can go as low as $3.20, but please don’t start there and always use limit orders. (Current stock price: $328.32)
Bull Put Spread: Sell to open the LULU Aug Monthly (8/21) 285 Put for around $1.62 and buy to open the LULU Aug Monthly (8/21) 280 Put for around $1.24. Set initial credit limit at $0.38.