selling weekly SPY 218 call here (covered it with 221 call)

SPDR S&P 500 ETF TRUSTArca

Description

⋅ Aug 29, 2016 5:49 PM

SPY seems to be in consolidation. I think we reached a short term top. selling calls generates profit by drop in SPY and/or time decay. will close position at 50% profit or roll into next week.

Trade closed manually

⋅ Aug 30, 2016 4:42 PM

closed it at $0.78 around 11:30 ~40% profit