Tuesday, October 9, 2012

SPY Option Trade Ended Code Yellow

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. 

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