Trade of the Week: IONQ

Trade of the Week

Last week, in my 48-Hour Income service, we sold a cash-secured put on quantum computing company IonQ (IONQ). 

In 48-Hour Income, the goal of the service is to generate 1% to 3% returns per week by selling 2-day puts in certain stocks. IONQ put premiums were elevated at the time due to upcoming earnings.

The share price dropped after earnings, but remained above our strike price, and we were able to let our puts expire without too much stress.

Those who sold the 10 puts made roughly 2.8% on the trade in just about two days.