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Friday, September 19, 2014

Spiders (SPY) Sept Put Options

8/12/2014
sell (to open) 10 September 2014 $178 puts at $0.57
probability of success:  almost 90%
Why place this trade?  SPY has been "oversold" and now it's on its way back up (see chart).


9/19/2014 (expiration)
SPY closed at $200.70, so my puts expired perfectly!

TOTAL NET PROFIT:  $562.24



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