Small Account Trader PRO Alert: Close SPY Calendar
Last trade today before the Fed meeting at 2:00 PM. Let’s close our SPY single calendar spread for a profit. We entered this trade as a single calendar expecting to add another leg depending on how the market moved. The SPY moved higher but stayed in range so we now can collect about a $3.40 credit or $340 per contract … roughly $1,022 of net profit.
TRADE CLOSE: Single Calendar Spread
SPDR S&P 500 ETF (SPY): 382.95
TRADE ACTION: CLOSE the SPY 4 Nov 385 call / 16 Dec 385 call for a net credit of around 9.00
BTC the SPY 4 Nov 385 call
STC the SPY 16 Dec 385 call
The Master Portfolio is trading 3 contracts.