I get emails from several web sites that promote options. It seems to me they always make a profit. When I see that I know that they are not reporting honestly. So when you look at merv’s trades, you will usually see some loss positions.
But one area where we have not lost in a long time, overall, is in our SPY spreads. If you have been following our trades you have seen a profit of almost $2,200 from the current sequence so far since we started on April 1st. Here are the trades:
4/1. Bt sep 129 to write calls against. -1,255
Sld may 121 calls. + 1,145
4/23 bt bk may 121 -1,905
Sld. Sep 124. +3,556
5/5. Bt back sep 124. -2,701
Sld jul 120. +2,325
5/25 bt back jul 120. -280
Sld sep 120. +1,515
That’s a nice profit so far. This week we will buy back the sep 120 at a nice profit and sell the sep 117 for about $1,115 because the market is down. I’ll keep you posted.
Next week: what are we losing on?
