Two Day Performance of the SPDRs Strangle
The SPDRs
Strangle of selling a SPY March 140 Call and also selling a SPY March 129 Put
has had a nice performance of a two day period. I wrote to only hold the position
for one day, which I still stand by. If you had held this position just
yesterday you would have had a 21.5% return. That is pretty good once or twice a
month.
I have continued to track the same
trade along with sever other trades. The 140 Call/129 Put position did even
better today as the position made a total of 68.55% over the two day period of
Tuesday and Wednesday. At this point it’s a pretty safe play as the SPY moving
down to the 129 level from the current 133.20 by the expiration Thursday is
very unlikely.