Trade Alert: Close SPY call option

By Stephen Leeb • February 26, 2018

Sell to close the SPDR S&P 500 ETF (NYSE: SPY) June 15, 2018 $282 call option.

The option trade got off to a rocky start for us, but market has bounced back. Ahead of Jerome Powell’s first testimony before Congress tomorrow, which could have a significant effect on the market either way, I think it’s prudent to close the trade to lock in the modest gain.

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Victor

02/26/18 ‐ 12:40pm ET February 26, 2018 at 12:40pm ET

filled @ $5.20 on Tasty. Thank you

Stephen Leeb

02/26/18 ‐ 6:27pm ET February 26, 2018 at 6:27pm ET

Victor et al., You guys all did better than I did. I could not be happier. That is a trend I would love to see persist – especially if we remain on the positive side of things. Stay tuned I should have another trade in the near future. Best, Steve

Stephen Leeb

02/26/18 ‐ 6:33pm ET February 26, 2018 at 6:33pm ET

Just for the record, I meant to say you all did better than our record will show. I don’t trade myself it would be too much of a conflict. Steve

Chee L.

02/26/18 ‐ 1:02pm ET February 26, 2018 at 1:02pm ET

Closed at $5.42 and $5.45 on TOS. Thanks for the nice gain.

Rick

02/26/18 ‐ 1:03pm ET February 26, 2018 at 1:03pm ET

Sold at $5.45 on Fidelity – very nice profit.

Larry Johnson

02/26/18 ‐ 1:05pm ET February 26, 2018 at 1:05pm ET

Closed at 5.45.
5.45 – 3.61 = 1.84
1.84/3.61 = 51% less commissions.
Good Trade. Thanks!!!

Kristin B

02/26/18 ‐ 1:08pm ET February 26, 2018 at 1:08pm ET

Sold at 5.48
@Schwab
Thanks!

Phil Ash

02/26/18 ‐ 1:09pm ET February 26, 2018 at 1:09pm ET

Bought at $3.95. 38% in 5 days. Not terrible! 🙂

Benny K

02/26/18 ‐ 1:16pm ET February 26, 2018 at 1:16pm ET

Out at 5.46 on Schwab. Thanks for the nice trade.

Stanley

02/26/18 ‐ 2:06pm ET February 26, 2018 at 2:06pm ET

Sold a little earlier in the day.
33% profit in a few days.
My only regret I didn’t buy more LOL
Thanks

Tim Lewis

02/26/18 ‐ 2:13pm ET February 26, 2018 at 2:13pm ET

Out at $6.07.. decided to wait a bit.

Rick

02/26/18 ‐ 3:37pm ET February 26, 2018 at 3:37pm ET

Very nice

Paul

02/26/18 ‐ 2:29pm ET February 26, 2018 at 2:29pm ET

Sold at $5.48. Thank You !!!

Ronner

02/26/18 ‐ 7:12pm ET February 26, 2018 at 7:12pm ET

I’ll take a “modest gain” like this anytime. Keep them coming! Thanks Stephen and team.

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