Discover more from Covered Calls with Reinis Fischer
Closed PFE earnings trade and SPY Bearish Butterfly both with a loss
On November 02, 2021, I closed the PFE earnings trade with a small loss of about $12, also closed Spy Bearish Butterfly with a $200 loss.
Here are trades for Pfizer:
SLD 1 PFE NOV 05 '21 43.5 Put Option 0.10 USD
SLD 1 PFE NOV 05 '21 43.5 Call Option 2.00 USD
My total loss is about $12 after closing this trade, which seems fair. If I would wait a bit more I could actually turn this trade into a profit, as my break-even price was $45.63.
Anyhow, still happy closing almost positive.
Here are trades for SPY
BOT 2 SPY NOV 19 '21 410 Put Option 0.30 USD
SLD 1 SPY NOV 19 '21 430 Put Option 0.68 USD
SLD 1 SPY NOV 19 '21 390 Put Option 0.17 USD
My total loss after commissions was $200 (which is the max risk when I opened the trade)
I still had some two weeks to expiry, but to let this trade be profitable SPY would need to drop to $430 levels.
I guess I will skip trading SPY and earning trades for a while now.
As a penalty, I bought 8 WMB shares in the value of my total loss