Hello,
A new spread trade in SPY has been made. A Dec 2nd $311 put option and two Dec 2nd $318 call options were purchased for $0.28.
The goal of the trade is to reach $1.00. Stop loss pricing has been instituted.Some reasons for the trade are below.
- Getting this amount of time (5 days) for as small a total premium of $0.30 is worth the risk.
- Upward trend is strong
- Likely heavy news cycle between now and Monday (Trade, Impeachment, Fed, Black Friday Numbers)
Happy Thanksgiving!
**
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