3/20/2022 Plan:
This week we look at Delta Airlines (Ticker: DAL)
3/20/2022 Plan (continued):
- DAL – Sell Apr 8 34/31 put spread for 0.34
- JPM – Sell the Apr 8 130 put for 1.18 OR
- JPM – Sell the Apr 8 130/125 put spread for 0.49
- Prices are as of market close 3/18/2022, actual fill and strikes may differ depending on Monday’s open, post will be updated accordingly.
- All trades are for educational purposes and do not constitute advice
3/20/2022 Commentary:
Market is still pretty wild, so caution is still warranted.
This week I like the Delta 34/31 put spreads for 0.34. You can also sell the put by itself if you want to add shares.
The JPM trade is a play on JPM not falling (and staying) below 130 which is about $10 less than it is currently trading. I will likely be selling the put by itself, but the trade is provided for smaller accounts or those that do not want to take shares.
Please note that both JPM and DAL have earnings the Following week, so I will not be pushing these trades farther out in time.
Feel free to Reach out with questions on this or anything else!
3/21/2022 Entry:
Sold DAL Apr 8 33/30 put spreads for 0.33. Closed AMD short put for 0.11. Sold Apr 8 130/125 put spreads in JPM for 0.49.
3/26/2022 Update:
The DAL put spreads are down to just 0.10 each, for a nice profit (if we close) of $23/spread. They expire next week and I’ll plan to hold at least until the end of this week. I may take some off at 0.05 if available.
The JPM put spreads are down to 0.24, meaning we could close and capture half the profit now. Again, I plan to keep them open to try and capture further profit. I expect to hold to expiration.
4/3/2022 Update:
The DAL put spreads can be closed for about 0.01 or 0.02. I missed taking them off, but will do so early this week as time permits to book the win. They do expire this week, so keep an eye on them if you hold later in the week.
The JPM put spreads are a little profitable and also expire this week. I plan to hold until Thursday or Friday to try and gain some more profit on this position. If the market and JPM open up down on Monday, I may just take these off for a ‘scratch’ (break even trade) to avoid a bit of volatility after multiple down days in a row in the market.
4/9/2022 Close:
The DAL put spreads expired worthless, bringing in $33 of profit per put spread sold – a nice win here as the narrower spread meant we sold a few more (vs. a $5 wide spread).
The JPM put spreads Also expired worthless bringing in $49 per put spread sold. Not much more to say other than enjoy the profit!
