10/2/2022 Plan:
This week we take a look at Micron (Ticker: MU)
10/2/2022 Plan (continued):
- MU- Sell Oct 28 44/39 put spreads for 0.55
- Prices are as of market close 9/30/2022, 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
10/2/2022 Commentary:
With chips down, this trade assumes they won’t go much further with a put spread sale in Micron.
Feel free to Reach out with questions on this or anything else!
10/3/2022 Entry:
Sold MU Oct 28 46/41 put spreads for 0.55. The market was up and the original strikes were not available.
10/9/2022 Update:
The MU put spreads are down to $0.40, for a profit of $15/spread sold at this point. With a few weeks to go, I intend to hold to try and capture further decay.
10/16/2022 Update:
The MU put spreads can be closed for 0.28, which is a profit of $27 per put spread sold. There are still two weeks until expiration and I plan to hold longer. If your overall account is a bit of a mess, you have two much risk on, or you need to close some winners to offset other losers, feel free to do so.
10/23/2022 Update:
The MU put spreads expire this week and are effectively worthless. You can close the short leg for about 0.03 or less at any time this week and book the profit. MU is at about $56 with our short strike at $46.
10/30/2022 Update:
The MU put spreads expired worthless adding $55 of profit to one’s account for each put spread sold. A solid win that never went against us. Which is nice.
