$225 profit in LOW
- themoneyloaf
- 5 hours ago
- 2 min read
Happy Sunday!
From a double dip in ITW last week to something different this week, a trade in LOW, a stock I very rarely trade. Not for any specific reason, just that the set up doesn't always present itself like it did in this trade.
This week:
$225 profit in Lowe's (LOW)
$225 profit in LOW
As much as possible, I try to stay mechanical with trade entries and exits. Meaning I don't have a view on where the stock is moving directionally, I just want it to set up for the system.
So when LOW entered a really nice set up, I sold the $195 cash-secured put expiring Jul 17 and received $300 in credit up front.
I entered my closing order for 75% of max profit and waited for the market to do its thing.
Less than 3 weeks later, my order was hit and I paid $75 to close the trade, realizing $225 in profit or 75% of max profit.
Like the screenshot says, this was pretty much a perfect trade that hit the entry and exit criteria perfectly and went off without a hitch.
This trade (and all trades in this newsletter) are shared in close-to real time to my private community as updates in my own portfolio (not recommendations). If you're familiar with the basic mechanics of options, you can consider joining the private community to view these updates as well.
And of course the guidance for managing and closing both trades were posted to the community as well.
You can find out more about my private community at the link below.
Have a good weekend!
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This article is for educational purposes only. This is my own portfolio which is being managed according to my goals and risk tolerance. Your situation is likely different and you should do your own due diligence before investing in stocks or options.
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