Posted on October 23, 2020
Winding up a nice winner today for a 53% gain.
It was opened on October 8th in a letter called Revolution Begins: Market Decapitated!
There, we urged you to buy the SPGI October 23rd 350 PUT for $6.90 and sell the SPGI October 23rd 340 PUT for $3.30. Total debit on the affair was $3.60.
Today’s the 23rd, and the breakdown is as follows –
The long PUT sells for $10.60 and the short for $5.10.
Sell of the first and buy back the second, and you pocket $1.90 on $3.60 spent, or 53%.
That said, futures are flat as we go to press, so you might see additional gains on a weaker open or at some other juncture during the day.
As time value decays throughout the day, it’s also possible you’ll pocket the entire $20 spread.
Either way, we’ll be entering Shabbat as the market opens, so you’re on your own.
We’re booking the trade as we’ve stated above, with last night’s closing numbers.
May Hashem bless all you worthy souls with great success.
Health and happiness to all.
Alan B. Harvard