3/13/2022 Plan:
This week we look at AMD (Ticker: AMD)
3/13/2022 Plan (continued):
- AMD- Sell Apr 14 80 put for 1.13
- INTC – Sell the Apr 8 41 put for 0.44 (or spread it if you don’t want shares)
- Prices are as of market close 3/11/2022, 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
3/13/2022 Commentary:
Feel free to NOT trade while the market is in turmoil. I am placing additional downside trades in my account this week, including some longer term put spreads and likely will sell some more call spreads in SPY (as I did last week). I remain long term bullish on the market – but having some well tied protection in place can help one sleep better and still profit from these turbulent times.
I would, however, be quite happy adding 100 shares of AMD at an equivalent of 78.87 and will be selling the Apr 14 80 put.
If you are more of an INTC person, consider the Apr 8 41 put for 0.44. You can also spread it with the 35 put for some protection in case the market really tanks.
I’m also selling the DOW April 14 52.5 or 55 put depending on pricing. Last, I’ll be looking at the 70 put in SBUX as it continues to sell off (we wisely held off on the put spread last week).
Again, keep your position sizes in check, don’t take unnecessary risks, and protect your capital!
Feel free to Reach out with questions on this or anything else!
3/14/2022 Entry:
Sold AMD April 14 75 put for 0.75. INTC 40 put available in Apr 8 for favorable levels. Would need to be a bit patient on the DOW 52.5, but 55 is quite sellable.
3/20/2022 Update:
The AMD put we sold is now worth only 0.14 for a $61 profit in just one week. We have several weeks before it expires, so in this case, I would recommend anyone that doesn’t have the spare capital to close it and redeploy on additional trades. 4 weeks to wait for 0.14 is a long time. Having said that, if you have a lot of extra cash, this is a lower risk position at this point with AMD almost $40 higher. I’ll likely close and find another put to sell… If someone is still bullish on AMD, rolling Up to the 95 would bring in a pretty attractive credit.
3/21/2022 Close:
The AMD put was closed for just 0.11. Personally I sold the 95 put as well for another $92 credit as mentioned last week. Did you do the same? Or did you just book the win and look for other trades?
