SPY 30 September Option Trade

Testing the waters with SPY option trade. I am putting $52 at risk, as the SEP 305 call option was fairly inexpensive in my opinion. With only a 17% chance of being profitable, there is a reason the cost of the option is cheap.

The truth behind this trade is that I felt disingenuous sharing my opinion on what may happen next without taking a position either bullish or bearish. Today I am pretending to be a bull for the next few weeks. I think there is a good chance SPY 300-302 will be tested again before another big selloff.


  1. I bought some long term calls. I think this market still has another wave of euphoria to go before we hit the big plateau.

    1. Hey Rhiese, how far out are your calls? I agree with your market sentiment, today is a good example of the euphoria you mentioned. My option has a ways to go before making a profit but it is headed in the right direction for now. Need more of that euphoria for a good spike up!

      Thanks for the comment!

  2. Hope everyone has enjoyed the summer so far. A quick followup on SPY option trade. Price has not moved far enough and Theta has eaten away over 50% of the value of the option. I closed it with a remaining $19 of value left. It was a 17% long shot that this option would be profitable.


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