Trade 200 Devilish Delight
This is a strategy that comes from a fellow trader who got it from a guy who met a guy who knew this trader who had a strategy!
Caveat- we have been tracking this for a few months and it has had several big wins and weeks of losses. It is a weekly trade and it is the… Pitchfork.
Simply, it’s 1 short deep ITM call and 3 (three) short puts First issue: It has to be placed on a Monday, so we report from a live market. Here’s the prices again, and we looked at 6150 strike for comparison.
We took in a total premium of 521 for the 6200 strike and now it’s 465.5. Close out WIN 55.5 or £555!
For the 6150 strike took in 533.5 and closed for 489.5 = 44 WIN but not as good.
We wish all our readers a decent Xmas and Happy New Year. We have all had our travails this year, so let’s hope 2021 brings renewed hope. There is much to look forward to, and remember:
Options give you WINS!