As the Primary Trade is this aligned to the larger market direction and is deemed less risky. I'm bullish inclined for JETS as it is considered one of the COVID19 recovery sectors.
More vaccine news and it's potential positive speculation could start increasing it's frequency, resulting in traders trying to capitalize on it by entering sectors previously hit hard by COVID19
Sold 140 Puts @ 0.40, Strike 19 BP block: 27k Max gain - est $5600
Comment
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WSJ The 10-Point 8 Jan 2021 Many investors say they expect to see heavy spending by Democrats aimed at shoring up the U.S. economy. U.S. stocks rose Thursday, with the S&P 500 adding 1.5%, the Nasdaq 2.6% and the Dow industrials 0.7%. In global trading today, Asian stock indexes ended mostly higher, European markets were up in midday trading and U.S. stock futures edged higher.
Trade active
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Because I closed my Jan PG trade early with a nice profit, I utilized the freed up BP to purchase 115 Contracts of the Strike 20 @ 0.44 expiring 19 Feb. I have the excess because of my capital injection that happened in Jan
Trade closed: target reached
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Trade closed at a profit but this hedge my TOL loss