Joe Tigay's SPDR S&P 500 ETF Trust Options Strategy

Joe Tigay of Equity Armor Investments spoke on Bloomberg Markets about an options trading strategy in SPDR S&P 500 ETF Trust SPY.

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He said the market is trading at its all-time highs and it seems to him that it's better to sell put options in SPDR S&P 500 ETF Trust than to have a long stock exposure. Tigay would sell the April 234 put for $2.25. The trade starts to lose money below $231.75 or 2.5 percent below the current market price. If the stock stays above $234 at the April expiration, he's going to collect the premium, which is around 1 percent of the current market price.