Walmart Stock Option Trade Can Return 19% With A Little Patience
Walmart Stock Option Trade Can Return 19% With A Little Patience
Walmart broke out above the 50-day moving average after showing signs of accumulation since January.
沃尔玛（Walmart） 自一月份以来出现积累迹象后，突破了50天移动平均线。
According to the IBD Stock Checkup, Walmart stock is ranked No. 1 in its group and has a Composite Rating of 81, an EPS Rating of 81 and a Relative Strength Rating of 77.
根据 IBD 股票检查，沃尔玛股票在集团中排名第一，拥有 综合评级 81 个，一个 每股收益评级 的 81 还有 相对强度等级 共 77 个。
When it comes to options, we normally look at short-term trades — anywhere from one week to one month.
在期权方面，我们通常关注短期交易——从一周到一个月不等。
Longer-term option trades tend to move a little slower than shorter-term trades. That allows more time to adjust or close, but also means a lower annualized return.
长期期权交易的走势往往比短期交易慢一些。这允许有更多时间进行调整或收盘，但也意味着较低的年化回报率。
Today, we will look at a longer-term bull put spread.
今天，我们将研究长期牛市看跌期权价差。
As a reminder, a bull put spread is a defined risk strategy, so you always know the worst-case scenario in advance.
提醒一下，牛市看跌期权价差是一种明确的风险策略，因此您总是事先知道最坏的情况。
Trade Aims At Rising Share Price
交易的目标是股价上涨
This type of trade will profit if Walmart stock trades sideways or higher and even sometimes if it trades slightly lower.
如果沃尔玛股票横盘交易或走高，甚至有时交易价格略低，这种类型的交易也会获利。
With Walmart trading around 144, if we use the Sept. 15 expiration, we can sell a 130-strike put and buy a 125-strike put to set up the bull put spread. That spread was trading around $0.80 late Monday. Keep in mind that liquidity is lower in longer-term options, which means it can be harder to get a good fill price.
沃尔玛的交易价格在144左右，如果我们使用9月15日的到期日，我们可以卖出130次行使的看跌期权并买入125次行使的看跌期权来设置看跌期权价差。周一晚些时候，该价差的交易价格约为0.80美元。请记住，长期期权的流动性较低，这意味着可能更难获得良好的填充价格。
Selling this spread would generate roughly $80 in premium with a maximum risk of $420.
卖出这个价差将产生大约80美元的溢价，最大风险为420美元。
If the spread expires worthless that would be a 19% return in six months, provided Walmart is above 130 at expiration.
如果点差到期，一文不值，那将在六个月内获得19％的回报，前提是沃尔玛到期时超过130。
The maximum loss would occur if Walmart stock closes below 125 on Sept. 15. That would see the premium seller lose $420 on the trade.
如果沃尔玛股票在9月15日收于125以下，则损失最大。这将使溢价卖家在这笔交易中损失420美元。
The break-even point for the trade is 129.20, which is calculated as 130 less the $0.80 option premium per contract.
该交易的盈亏平衡点为129.20，计算方法为130减去每份合约0.80美元的期权溢价。
I would set an adjustment point or a stop loss if Walmart stock drops below 135. Otherwise, another good rule of thumb is to limit the loss to the amount of premium received. In this case it would be $80.
如果沃尔玛股票跌至135以下，我会设定一个调整点或止损。否则，另一个好的经验法则是将损失限制在收到的保费金额以内。在这种情况下，将是80美元。
Sticking to this stop loss level will help avoid large losses if the trade goes south.
如果交易走低，坚持这个止损水平将有助于避免巨额损失。
Oil ETF, JPMorgan Trades Work Out
石油ETF，摩根大通的交易成功了
The bear call spread discussed March 13 on the VanEck Oil Services ETF can be closed for a nice profit. Same for the March 16 diagonal put spread on JPMorgan stock.
3月13日讨论的VanEck Oil Services ETF的看涨期权价差可以平仓，以获得可观的利润。3月16日的对角线看跌价差也是如此 摩根大通 股票。
Please remember that options are risky, and investors can lose 100% of their investment.
请记住，期权是有风险的，投资者可能会损失100％的投资。
Check out IBD's new OptionsTrader app for options education, trade ideas and more! Download from the Apple App Store today.
查看IBD的全新 OptionSTrader 应用程序，了解期权教育、交易理念等！立即从苹果应用商店下载。
This article is for education purposes only and not a trade recommendation. Remember to always do your own due diligence and consult your financial advisor before making any investment decisions.
本文仅用于教育目的，不是交易建议。在做出任何投资决定之前，请务必自己进行尽职调查并咨询财务顾问。
Gavin McMaster has a Masters in Applied Finance and Investment. He specializes in income trading using options, is very conservative in his style and believes patience in waiting for the best setups is the key to successful trading. Follow him on Twitter at @OptiontradinIQ
加文·麦克马斯特拥有应用金融和投资硕士学位。他擅长使用期权进行收益交易，他的风格非常保守，他认为耐心等待最佳设置是成功交易的关键。在推特上关注他，网址为 @OptiontradinIQ
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译文内容由第三方软件翻译。