Exit SPY put play Posted at: May 5th - 11:52 AM Weekly Option Alert Alert Message Those remaining in the SPY 205 Put play should consider exiting. Premium is eroding quickly with this market chop. Limits & Stops SELF DIRECTED TRADERS: Weekly Option alerts should be traded with 50% stop loss targeting 20% - 50% returns. Additional Trades View all recent trades. Weekly Options Instructions All options are buy to open, sell to close. Options follow the following format: Stock + Expiration Date + Option Type + Strike Price. Example QQQ201220C120 = QQQ 2020/12/20 Call $120. Read Weekly Options Guidelines for more information about how to trade our Weekly Options strategy.