IA Trade Alert - (Patreon)

Hi Team

as per last nite precursor, I entered Meta lower than I expected. I got a fill at $99.  It fell as low as 97.5 and I waited for direction to turn.

I sold the Jan 2024 $100 Puts for $20 and bought the Jan 2024 $100 calls for $24. As with all Synthetic Longs it is a VERY risky strategy.  My breakeven point on this trade is for META to hit $104.  The naked put sale starts hurting if META falls under $80.  $80 is the point where I revisit the strategy if Meta falls that low.

None of this is financial advice, just sharing what I do.

Check my reasoning in yesterday's post.