The November 24 Bear Put Spread on Johnson & Johnson (JNJ) offered a clean exit today as the stock finally lost momentum after its extended push into local highs. Price stalled at the upper Donchian band, RSI retreated from its overbought zone, and MACD momentum flattened — enough technical confirmation to lock in the gain instead of holding into a theta-heavy final stretch.
With only two weeks left before the December 19 expiration, the reward for staying in a debit structure no longer justified the risk. I chose to take the profit — especially since the combination of this exit and yesterday’s LLY close keeps me right on schedule with my ~$500/week income target.
Trade Recap
Structure: Bear Put Spread
Expiration: Dec 19, 2025
Strikes: 210/200
Contracts: 2
Net P/L: +$119
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Disclaimer
All content is for informational purposes only and does not constitute financial advice.Any trades or strategies should be tested in a simulated environment before use.Trading involves risk, and all decisions are the sole responsibility of the reader.