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| CLOSED UCPTD Trade | CSP on BITU > $1600 MADE > 6.96% in (14) days > UT (BITU231.7) | |||||||||
| All rights reserved - Core Position Trading, LLC-2024 | |||||||||
 | CLOSED CSP TRADE | ||||||||
| STANDARD CASH SECURED PUT TRADE IS NOW | CLOSED | ||||||||
WINNER | $1,600.00 | ||||||||
| DAYS ON | THIS CASH SECURED PUT TRADE IS CLOSED / NO ROLL | ||||||||
| 14 | July 5, 2024 | July 19, 2024 | |||||||
BITU |  | TIME AND DATE STAMP | |||||||
| Friday, July 19, 2024 | |||||||||
| DISCLAIMER: This trade is based on this date. I'm not suggesting a move up or down. I'm showing my trade that I have already done. I'm not recommending this stock as a purchase/trade. Think of it like this, I'm 'Showing you the World thru my Eyes'. | |||||||||
| UNIQUE TRADE IDENTIFIER | BITU231.7 | ||||||||
| Yahoo Chart Link > | https://finance.yahoo.com/quote/SMCI/chart | ||||||||
| DETAILS FOR THIS CASH SECURED PUT TRADE | |||||||||
| Today, (10) Cash Secured Put contract(s) were bought back on ProShares Ultra Bitcoin ETF (ticker: BITU) for the Jun-19-2024 Expiration Date, $23 Strike Price for a Premium of $1.7 > BITU was trading for $23.51 a share when I placed this trade. Because I bought this option back early, I did not make max profit. The final profit / cash flow collected it posted below. Instead of making the original premium, I collected $1.6 or -77% of the total projected cash flow for this trade. | |||||||||
| THIS TRADE WAS PLACED INSIDE MY TAXABLE ACCOUNT | |||||||||
| CASH SECURED PUTS ARE PREMIUM ONLY TRADES | |||||||||
| Stock Price - placed | Date | Expire WAS | Days On | ||||||
| $23.51 | Jul-5 | Jul-19 | 14 | ||||||
| Strike Price | Premium WAS | The Buy Back | Cash Flow Collected | ||||||
| $23.00 | $1.70 | -$0.10 | $1,600.00 | ||||||
| Contracts | Cash Invested? | Cash Flow Collected | |||||||
| 10 | $23,000.00 | 6.96% | |||||||
| COMMENTARY AS TO WHY I CLOSED THIS TRADE | |||||||||
| WHY I CLOSED this CSP Trade on > BITU > Trades ends on the finally day ... I'll tell you this , the bid / ask spreads were very wide and the open interest just not there to get out earlier ... this trade should have been bought back easily early in the week ... but those bidders just didn show up until the final day looking to get something back from there loss ... we take this and move on!!! I will be playing this again even though they are monthly's, its an easy monthly trade. > The option has fallen such that its down some 77% at the time of this buy back and with (0) day left. | |||||||||
| -50% , -10% RULES (PRICES WHEN I MIGHT BUY BACK) | |||||||||
| Premium | -50% | 10% Rule | My Buy Back was? | ||||||
| $1.70 | $0.85 | $0.17 | -$0.10 | ||||||
| -50% Rule? | Percentage Down | ||||||||
| YES | -94.12% | ||||||||
| What does this mean? If within the first week the option falls 50% I will buy back the option and look to roll for another credit ... if the option falls to 10% of the value, I will buy back and roll. | |||||||||
| MY FAVORITE CASH SECURED PUT TRAINING VIDEO | |||||||||
| CLICK HERE TO WATCH CSP TRAINING |  | ||||||||
| https://www.youtube.com/watch?v=JhmmSJBt_dg | |||||||||
| BASIC CSP TRAINING | |||||||||
| Remember, the content of this site is for informational and educational purposes only. If you invest using information contained here, do so at your own risk. Please read the full disclaimer posted below and visit cptdashboard.com for my privacy policy. | |||||||||
| This is not a recommendation to buy or sell this stock | |||||||||
| Disclaimer - Yes - at the time of this posting I do own shares. That could mean in my taxable , non-taxable accounts or both. I am by no means recommending this stock for purchase | |||||||||
| Trading stocks and options have risk. Required reading prior to placing money at risk with options is the ODD which is posted below. "The Characteristics & Risks of Standardized Options" Prior to buying or selling an option, investors must read a copy of the Characteristics & Risks of Standardized Options, also known as the options disclosure document (ODD). It explains the characteristics and risks of exchange traded options. | |||||||||
| Feel free to email me if you have questions and/or concerns about this post - corepositiontrading@gmail.com - I usually will get back with you in 48 hours or sooner | |||||||||
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