Investing, options

Update and Straddle Write

I paired my SPY 87 Nov Put write with writing a SPY 87 Nov Call.  Both are covered, the call with 100 shares of SPY, the put with cash.  The account value is down to $20,417 with -$1360 the present market value of the straddle.   Ideally SPY with stay within a small range of 87 and the straddle will expire worth very little.  The worst case scenario is that SPY falls like a rock and eats into my put.  I’ll keep things update periodically, regardless of how the market winds blow.

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