Another stock in a very strong uptrend has been GE. The uptrend started in December and has roared higher since then. This stock is well worth being considered for more trades next week on any dips. Today the stock didn’t dip but I placed this trade as earnings are not until Apr 23.
General Electric Stock (GE)
TRADE SUMMARY: Credit Put Spread
Date: Fri Feb 23 2024
Equity: General Electric Stock (GE)
Approx Price At Entry: $153.00
Expiry: Mar 15 2024
Next Earnings: May 2 2024
Potential Profit: $446.40
Potential Return: 1.4%
Approx. Percent of Protection: 8.5%
TRADE DETAILS:
Short Puts: Sold 9 put contracts for Mar 15 2024 expiry at the $140.00 put strike for $0.556 = $500.40
Long Puts: Bought 9 put contracts for Mar 15 2024 expiry at the $105.00 put strike for $0.06 = ($54.00)
Spread Details: This forms a $35.00 credit put spread returning 1.4% earning $446.40 if held to expiry on Mar 15 2024
Buy To Close Early Offer: I am offering $0.23 to start and will reduce that amount as the trade moves toward expiry on Mar 15 2024
TRADE STATS:
Put Strike Sold: $140.00
Potential Profit: $446.40
Potential Return: 1.4%
Credit Put Spread Size $35.00
Approx. Percent Of Protection: 8.5%
Equity Would Have To Fall To Reach Short Put: $13.00
Capital In Use: $31,500.00
No commissions are taken into account in these trades. Remember do your own due diligence. I am not a financial planner or advisor and have no financial accreditations. Nothing you read are recommendations. FullyInformed.com is for educational and entertainment purposes only.
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