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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
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Author: tedthedog ✧🐝⎊  😊 😞
Number: of 15070 
Subject: OT: Sleep-tight option position on SPY
Date: 12/29/2023 4:20 PM
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No. of Recommendations: 3

This is for the closet indexers on this board holding SPY.

Sell Jan 17 2025 strike 530 SPY call, bid 11.22 ask 12.71 mid 11.9
Buy Jan 17 2025 strike 425 SPY put, bid 11.65 ask 12.78 mid 12.25
Cost $35/contract, almost costless.

Discussion
Costless Collar: if you're happy to cap gains at a comfortable level then you can sell a covered call to finance a protective put.
This example caps gains at +12% and losses at -11%. Net cost is minimal.

Adjust to taste. Sleep tight.
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