ACTION:

Buy to open the SPY August 205 puts (SPY150821P00205000, $0.90, up $0.17) at current levels.

Dear Momentum Options Subscriber,

I have a New Trade to play the S&P 500, as the index appears to be breaking down.

 

SPDR S&P 500 ETF (SPY, $208.96, down $1.54)

Buy to open the SPY August 205 puts (SPY150821P00205000, $0.90, up $0.17) at current levels.

I like these put options at current levels to play continued weakness in the S&P 500.

These are the regular monthly options that expire on Aug. 21, and I will provide the parameters of the trade in tomorrow’s Pre-Market Update.

 

All prices given in this update are current as of 1:05 p.m. EST.

I hereby disclose that I will be participating in the aforementioned trade(s). Every new Momentum Options recommendation is listed with the price at which I entered my own position. If the price is slightly different than my recommended entry or exit price when you receive the alert, don’t let that keep you from getting into or out of a trade. Occasionally, you might even get a better “fill” price than what is posted in the Open Trades and Closed Trades.

Trade on!

Rick Rouse
Editor and Chief Options Strategist
Momentum Options