Lots of premium available on SPY options

There is a lot of premium available on SPY options that will expire at the end of next week due to the recent market gyrations.   I created a covered call, buying SPY at 117.26, selling-to-open May 117 calls at 1.69 for a net investment of 115.57.   The Theta (time decay) on these options is $8 per day.


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