I am glad I made the move as of writing this 12:46pm... my short PUTS would have cost me 36c to close out which I would have taken a loss on this BULL PUT SPREAD. It is 1:00pm, $NVDA actually closed at $263.45 which is above my short PUT... ugh, I could have profited $24 and saved on commissions of $6.67. But what a ride out that would have been!
Option | Accounts (Position) |
NVDA 21SEP2018 225 P | +246 (-1) |
NVDA 21SEP2018 257.5 P | -216 (8) |
NVDA 21SEP2018 262.5 P | closed early @0.03 +408 (-8) |
SBUX 21SEP2018 50 P | +56 (-1) |
TD 21SEP2018 76 P | +62 (-2 |
Realized profit for the week: $556 less $24.41 in commissions. Commission was higher due to my bull put spread. I opened my bull put spread on $NVDA on Tuesday (3 day hold)... even though it uses less margin to open the option, it does add up commissions and your risks are inherently higher when your PUT is at the money. Time to sell more NAKED puts further expiration dates with wider out of the money strike prices.
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