The November SPY $146 put has been bought for $2.54. SPY is currently trading at $146.00. the target on the trade is for $4.00. Some of the reasons for the trade include:
- A double top and an M forming technically
- Earnings releases beginning next Thursday sounding negative
- Jobs report has mixed results
Previous trades include USO (call and put), IAU, PIN and FXC (calls twice) options.
If a more conservative approach is more to your trading style, Trading Futures ETF Options also follows Sell The Call, a blog covering all things covered call.
**Disclaimer** - This is just trade and or futures options information. It is not a recommendation to buy or sell any of the securities mentioned in this blog. Do your Due Diligence before any trading or investing.