u/godlessLlama ·
Reddit — r/smallstreetbets
· May 03, 2026 at 00:29
· ⬆ 15 pts
· 💬 24 comments
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Thinking about getting a 6/18 SPY $600p for 1.05 and selling for 4.2 clean 300%
I don’t see this overextended run lasting for much longer. I’m generally long the market but for the next few months I’m looking for some kind of pullback
I might even get 2 contracts and let the second run for as much as I can get.
No SL for the first 2 weeks but after that SL -30%
After selling the first for 300% the runner will SL at break even until at 500% then the SL will move to 250%. Then I will put TP at 1000% and move the SL up over time depending on movement
Thoughts?