15Dec open, the January 21, $198 puts on XLY (for the income) and buying, to open, the January 21, $190 puts (for downside protection).
05Ene Buy, to close, the Consumer Discretionary Select Sector SPDR Fund ( XLY ) January 21, $198 puts and sell, to close, the XLY January 21, $190 puts for a net debit of no more than $0.45. Cerrado en -0.445 P&L: $438.29
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