Investing Quick Hits - Week of 2/20/23

Hot Trades : SPY, XSP, and UNG

Hot Trades - SPY Iron Condor (CLOSED FOR PROFIT)

Trade #1: Close SPY IC. With the moderate decrease in volatility during the middle of this week, I decided to close my SPY Iron Condor for 19% of the maximum profit, or $31. (Image #1 above). Usually I go for $83 (or 50%), but I felt that volatility had gotten fairly low, and wasn’t going much lower so I thought I would take the opportunity to close the March Iron Conor in SPY for a profit.

To close the SPY Iron Condor For a 1.38 debit:

• Bought 1 SPY 03/17/23 Put 385.00 @ 1.90

• Remaining Instructions for Subscribed Members

Trade #2: After a member pointed out the high IVR% in UNG (Natural Gas) this week I decided to also add a ratio spread. UNG is already very low and there is no risk to the downside in this trade. Should UNG reverse and head towards $9 on or before April 21st, I can make up to 1.42. My break even on the top is 10.50, and after that I’d be obligated to purchase 200 shares of UNG for whatever it’s trading at. Alternatively, I could close for a loss. My plan is to collect around 30-50% of profit and exit the trade quickly before I run into any sort of breach of the break even.

To Open the UNG Ratio Spread for a .50 credit:

• Bought 1 UNG 04/21/23 Call 7.00 @ 1.56

• Remaining Instructions for Subscribed Members

Other trades from this week:

• Opened a new “SPY-like” Iron Condor in April using XSP, the “Mini” S&P 500 Index. (See Image #3 above, and note the 41.3% juicy IVR%). Strikes for Premium Members, but hint, you can probably figure it out from the XSP image above! Collected 1.64cr on entry.

• $38 profit in a 2nd Amazon covered call at the 105 strike. Closed for a 2.04db leaving me with $38 profit.

• Opened a long 10 year short 2 year pairs trade, betting the yield curve would start to steepen.

• Reset a Poor Man’s Covered Call in WBA

• Did a Bearish QQQ Put/Debit Spread, recommended by our friends over at the Antagonist.

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