We are having a nice month here in the Options Income Newsletter. All of our current trades in the live portfolio are looking good. Here is a recap of the trades we have on.
First we legged into two sides of a $SPY strangle taking advantage of the higher premium on both sides, selling the 123 Dec put for .54, now at .16 and we legged in the 150 Dec call for .49, now at .04, giving us a total current profit of .83 or $83 per one lot.
When the market turned back down we added another leg on the put side, the Dec 125 for .51, now at .22, giving us current profit of .29 or $29 per one lot. Due to bearish market conditions, I have not had the chance to leg in another call side to this position, but with the current rally, I will be looking to add that in the coming days.