SPY Put Ladder

#spyladder #shortputs – Closed most open positions on the bounce to control risk. Then, at the close, sold OTM put for 2 weeks out. Only current open option position:

STO Mar 4 2022 408 Put @ 2.20

Today is the first weekly close below the 50-Wk MA since the week of 6/22/2020. If we get a second consecutive close below that MA next Friday, as they say on Shark Tank, “I’m out.” I’ll close the open short put at the close and wait until SPY proves that it is ready to launch a new uptrend.

If, on the other hand, SPY closes above the MA, I’ll keep the open put and sell another one for 2 weeks after that.

(Edit) Forgot about another account:
STO March 4 2022 409 Put @ 2.20