SPX Weekly Put Options Trade
Here’s a trade if you are brave enough:
S&P500 is down about 2.5% today. Sitting at 1145.
I am taking a stab at some weekly Puts.
Sell to Open SEP2 11 1070 Puts, Buy to Open SEP2 11 1065 Puts for a credit of .35 each
That equals roughly a 7.5% profit potential. These will stop trading Thursday at the close. The settlement price will be released Friday morning. Same as with regular SPX options.
As long as the SPX stays above 1070, this trade makes money. It has a 90% chance of doing so.
Will SPX drop 80 points in a couple days? Seems unlikely but who knows. Still, I like my chances.
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