Hi Wealth Builders! 👋
Hope everyone had a great week! The markets had a good week with the S&P 500, Nasdaq, and Dow advancing 1.8%, 2%, and 2% respectively. This was mainly driven by a strong jobs report pushing us higher into the weekend and the debt ceiling bill passing that steered the U.S. clear of a default.
Steve's Trades
Apple kept pressing forward with its momentum and have pushed past the $176 resistance range I was monitoring. So we're going to do another AAPL Jade Lizard this week (AAPL Cash Secured Put plus an AAPL Bear Call Spread).
1. AAPL Cash Secured Put
Expiration Date: July 14, 2023
Step 1: Have $17,000 of cash as collateral
Step 2: Sell 1 $170 strike put option (delta -0.18) for $140
Credit/premium received: $140
2. AAPL Bear Call Spread
Expiration Date: July 14, 2023
Step 1: Buy 1 $225 strike call option (delta 0.02) for $12
Step 2: Sell 1 $195 strike call option (delta 0.16) for $80
Step 3: Set a buy-stop order of 100 shares at $194
Credit/premium received: $80 - $12 = $68
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Have a wonderful weekend! 🙂
-Steve and the Call to Leap Team
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