Trade Alert: Bear Call Spread Thu Feb 29 2024 Hey traders, Larry here. Today we’re going to open a new bear call spread on the S&P 500 Index (SPX)… Action to Take: Sell to Open the SPX February 29 Weekly 5115/5135 Bear Call spread for a net credit of $2.00 or better. The spread is currently trading at $2.40. We will assess the range of the spread over the next 10 minutes to ensure you had ample time to enter the trade. If there is insufficient time for traders to enter this trade at our recommended price, we will follow up with further instructions. Sell to open SPX February 29 Weekly 5115 call. Buy to open SPX February 29 Weekly 5135 call. Ensure that these two simultaneous trade actions result in a net credit of $2.00 or better for the spread. Be sure to use a "vertical" order in your brokerage account when you place the trade. Do NOT place this trade as two separate positions. For a refresher on how to do this, watch Part 3 in your video training series and read your special report on vertical spreads. With this trade we expect the market to fall a bit or just stay the same. That's what will cause the spread to expire worthless, granting us the entire premium earned for selling it. This is a speculative trade, and we will not have a stop loss on this position. If the spread trades outside of our specified price before you’re able to get in, don’t chase the price. Simply set a good-till-canceled or GTC limit order at our specified price, and wait for the trade to come back into range. Once it does, the trade will execute automatically. As always, keep an eye on your inbox for the next opportunity. Regards, Larry Benedict
Editor, The S&P Trader P.S. If you have any questions about the markets, trading options, or my proprietary approach to trading, please send them in to feedback@opportunistictrader.com. Before you place this trade, please review our position sizing guidelines below… If you’re new to options or have a small account ($10k or less), we recommend purchasing just one option contract per trade recommendation. We always suggest that you start with one contract per trade recommendation and only consider increasing your regular position size once you’re comfortable with the risks involved with trading options. Regardless, we advise trading the same number of contracts for each recommendation. And we recommend all traders follow our buy-up-to price recommendations and do NOT chase prices higher as that can affect your potential returns. | Download the Opportunistic Trader Mobile App To make sure that you always have an eye on my trades, make sure you download the Opportunistic Trader Mobile App (here are the links for iOS and Android) and enable push notifications after you log in. That way, you'll receive a notification on your phone as soon as I post my next actionable guidance, and never miss the chance to profit. And if you're a user of the Opportunistic Trader Mobile App and find it valuable, consider leaving a review on the App Store or Google Play page. If you think it could use some work, let us know that, too. | | 
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