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BookingAlpha Option Trading Advisory

Wednesday, January 13, 2016

April SPY 204 Calls

Trade Details: 
Buy 3 SPY April 204 Call
Net Debit: 1.40
Days to expiration: 93

Betting on a rebound. At some point the market has to stop going down. I will take profits here at around 50% ROI, that would be 2.10. Just a small speculative play in an extremely pessimistic environment.

Trade Update
Position closed on February 26 for 1.20. A 0.20 loss per contract, $60 total in dollar terms. The play didn't turn out as expected and after 44 days we are closing it for minimal damage.

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