1/30/2022 Plan:
This week we look at JP Morgan Chase (Ticker: JPM)
1/30/2022 Plan (continued):
- JPM – Sell Feb 18 138/135 put spreads for 0.38 or
- JPM – Sell Feb 18 138 put for 1.44
- MDT – Sell Feb 17 97.5/92.5 put spread for 0.58
- ABNB – For larger accounts, look at the Feb 11 125 put sale for 1.50+
- Prices are as of market close 1/28/2022, 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
1/30/2022 Commentary:
JPM has sold off quite a bit this year and this trade assumes it won’t go below levels last seen in Feb 2021. I plan to sell the put as I’d take shares at the 138 level, but this makes a pretty nice spread trade for those not interested in creating a longer term position in JPM.
The MDT trade assumes the recent low of 98.38 in December continues to hold. Fairly straightforward play, but reach out if there are any questions.
We return to ABNB again this week. I’ll be closing the open put for a big profit and looking to open this one week further. Spreads are a bit wide, so be selective in the sale. I’ll want at least 1.25 but am targeting closer to the 1.50 range.
Keeping last week’s BIG Reminder – the market is VERY volatile and you do Not have to place new trades until it settles down. Protect your capital – especially if you are trading a smaller account.
Feel free to Reach out with questions on this or anything else!
1/31/2022 Entry:
Sold Feb 18 138/135 JPM put spread for 0.30. Sold Feb 18 MDT 97.5/92.5 put spread for 0.53. Closed ABNB put for 0.03. With ABNB up $10, no additional put sale at this time.
2/6/2022 Update:
The JPM put spreads have performed well and are down to 0.10. They can be closed for a quick win or held on to, to try and gain $5/week. Your call. I’m holding
The MDT put spreads are down to 0.33. Can also be closed for a quick win. I like holding a bit longer as they have 2 weeks and a lot of premium left.
2/13/2022 Update:
The JPM put spreads are pretty far out of the money and likely to expire worthless. I’ll probably leave them alone for the week or close for 0.02-ish.
The MDT put spreads are also looking good. No planned action and they will probably expire worthless. I have a lot of positions expiring this week, so I may also close this if I have a chance to simplify my trading later in the week.
2/21/2022 Close:
The JPM put spreads expired worthless, which brings in an additional $30 in profit for every put spread sold.
The MDT put spreads Also expired worthless, for $53 in profit for each put spread sold. This closed out the trades from this week with a Lot of profit. Which is nice.
