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🔒Premium Membership Positions - June 10, 2023

Hi Wealth Builders! 👋

The markets had another good week with the S&P 500, Nasdaq, and Dow advancing 0.4%, 0.1%, and 0.3% respectively. This was mainly driven by the threshold where S&P broke 20% above the recent Q4 lows (indicating potential a new bull market) and optimism that consumer spending can more than offset future impacts of rate hikes. I'm cautiously optimistic of what the Fed will decide in the next meeting but am long term bullish in our macro-economy overall.

 

Steve's Trades


AMZN Jade Lizard 🦎


1. AMZN Cash Secured Put

Expiration Date: July 14, 2023

Step 1: Have $11,200 of cash as collateral

Step 2: Sell 1 $112 strike put option (delta -0.14) for $88

Credit/premium received: $88


2. AMZN Bear Call Spread

Expiration Date: July 14, 2023

Step 1: Buy 1 $160 strike call option (delta 0.02) for $9

Step 2: Sell 1 $135 strike call option (delta 0.18) for $101

Step 3: Set a buy-stop order of 100 shares at $134

Credit/premium received: $101 - $9 = $92


Keep in mind that AMZN may be higher risk since it doesn't pay a dividend. Overall I like the momentum we've been seeing in AMZN over the past 6 weeks (breaking $121.55 threshold 2 weeks ago and breaking but not holding above $124.95 for the past two consecutive weeks). Always do your homework and invest to your appropriate risk tolerance!


APPL Jade Lizard 🦎


1. AAPL Cash Secured Put

Expiration Date: July 28, 2023

Step 1: Have $17,000 of cash as collateral

Step 2: Sell 1 $170 strike put option (delta -0.18) for $130

Credit/premium received: $130


2. AAPL Bear Call Spread

Expiration Date: July 28, 2023

Step 1: Buy 1 $210 strike call option (delta 0.02) for $20

Step 2: Sell 1 $190 strike call option (delta 0.26) for $124

Step 3: Set a buy-stop order of 100 shares at $189

Credit/premium received: $124 - $20 = $104

 

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Have a wonderful weekend! 🙂


-Steve and the Call to Leap Team


The following article is strictly the opinion of the author and is to not be considered financial/investment advice. Call to Leap LLC and the author of this article does not claim to be a registered financial advisor (RIA) or financial advisor. Please visit our terms of service and privacy policy before reading this article.

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