Another profitable week. Other than the covered calls that are already set up, I also traded a few short term spreads.
- BIDU: I set up a call spread (long 135/short 140) in one account ($85.00/pair of contract) and a put spread (long 135 put/short 140)($88.00/pair of contract) . BIDU finished this week above 140 (at 148.52). Both trades made money.
- NFLX: the put spread was successfully set at below 50 SMA, hence the put spread expired worthless, creating a $66.72/pair of contract profit. The choice of 50 day SMA was critical, as NFLX chart shows 50 day SMA as a strong support line.
- FFIV: FFIV finished the week above $100 (at $101.36), hence the FFIV put spread of long 97.5 and short 100 successfully expired worthless.
- LVS: I also traded a LVS 44/45 put spread both of which expired, creating a $1200 profit.
- Total profit from these spread trades is ~1.12%, not including the longer term covered call positions.
