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Tuesday, June 17, 2014

Diamonds (DIA) Put Options

5/20/2014

sold (to open) 2 June 2014 $160 puts for $1.15
(I received $230 in cash)

Reasons for placing this trade on 5/20:
  • Bottom of stochastics ("oversold") (see chart)
  • Dow dropped over 100 points which brought DIA down to the 50 EMA (see chart)
  • Probability of success:  70%


6/17/2014 (4 days left until expiration)

bought back puts for $0.02

NET PROFIT:  $217.39

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