Adjustments and Comments on Weekly Option Trades
We apologize but have discovered that some subscribers are not getting access to our Open and Closed Spreadsheet in the Member’s Area to see these timely updates. We are fixing now and will send you a new link shortly.
Here are our current open trades:
11/27: AMT – Provided it opens above $147, consider shorting Dec (12/1) $145/140 Bull Put Credit Spread (5 DTE) for mid-point but limit of $.35/share (closed at $.40/share). Move stop breakeven if got filled.
11/27: CHTR – Provided it does not open over $322.00, consider shorting Dec (12/1) $350/355 bear call spread (5 DTE) for a limit of $.65/share (note: the spreads closed very wide and are illiquid so higher risk trade; however, the $350 put closed at $.80 x 1.55 which is how we are estimating our target credit). Stop Loss: $349.92. We are not sure if this minimum credit was obtained, but move stop breakeven if got filled.
11/27: LRCX – Over $219.50, consider shorting Dec (12/15) $212.5/202.5 bull put spread (5 DTE) for current mid-point but a minimum of $1.00/share (closed at $1.25/share). Stop Loss: $213.88. TRADE INVALID SINCE HIT STOP BEFORE ENTRY.
11/27: SQ – Shorted Dec (12/1) $50 naked calls for $.45/share. 11/27: Bid $.10/share to close for 78% Max Gain in a few hours and move stop to $47.41.
11/21: WYNN – Shorted Dec (12/1) $152.5/147 bull put spread for $.57/share. 11/27: Mid-point to close is $.21/share, bid $10/share to close and move stop loss $157.71.
11/22: UNP – Shorted Dec (12/1) $115/111 bull put spread for $.50/share. 11/25: Stopped at $.47/share.
11/22: RH -Shorted Dec (12/1) $87.5 naked puts for $.40/share. 11/27: Mid-point to close is $.18/share, bid $.05/share to close and move Stop breakeven.
11/24: UNH – Shorted Dec (12/1) $207.5/202.5 Bull Put Credit Spread for $.80/share. 11/27: Mid-point to close is $.42/share, bid $.15/share to close and move Stop breakeven.
Here are our most recent closed trades:
Happy trading! If you have any questions or comments, please e-mail Greg Capra at Greg@mastertrader.com or Dan Gibby at Dan@mastertrader.com
All the best,
Greg Capra
Managing Director of Master Trader
Pristine’s Founder and Creator of the Pristine Method
Dan Gibby
Chief Options Strategist
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