First trade of the year and it’s on $ITOT

Warning! This is not a trade recommendation. If you copy my trades – you will lose money.

$ITOT (ticker symbol: ITOT) is not the best stock ETF to meet my trading criteria but it’s the cheapest $ price I can find with broad base S&P stocks. $ITOT contains 1500 stocks in one basket. It’s a good representation of the overall stock market. Hence the name “S&P Total Stock Market Index,” which is part of the iShare Core investment fund.

The first opening trade is a short put below the current price. I sold $54 strike price in Feb monthly calendar. Days to expiration is 44 days. Delta is 0.2790. Recent year high was $67.60. At $54 strike; that would be 20% discount. A great initial price to enter long position if the market continue into bear territory.

I plan on keeping score on this ticker and maybe $SPY. Check back next month for update on this trade.

Warning! This is not a trade recommendation. If you copy my trades – you will lose money.

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