The trade in the SPY November $146 Put has ended Code Yellow. The put was sold for $3.34. The SPY was trading at $144.50. Some of the reasons for the trade are:
- Big bar down on SPY before earnings season starts tonight.
- Taking profits before uncertainty
- Thoughts of SPY moving towards a zero day based on earnings.
- Since only a November Option, time value was lessening at a faster pace
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.