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Hey Advanced Traders!

Let's set up some more bear call spreads as some of our favorite stocks are still trending neutrally.

AMD Bear Call Spreads

This week, I'm thinking we can continue to roll our bear call spreads or open new positions.

Expiration Date: January 14, 2022

Step 1: Buy 1 $200 strike call option with a delta 0.02 for $24

Step 2: Sell 1 $160 strike call option with a delta 0.23 for $194

Step 3: Set a buy stop order of 100 shares at $159

Credit received: $194 - $24 = $170

The goal is for AMD to stay under $159 from now until January 14. If AMD rallies up towards $160, we will buy 100 shares at $159 each, sell our purchased call option, and convert our trade into a covered call.

As always, feel free to tweak the width of your spreads to your risk tolerance.

Happy Holidays everyone! Enjoy your time with your loved ones! 🙏😊

Steve and the Call to Leap Team

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