sell to open 1 November 2014 $191 put option at $1.82
I GOT PAID $182 up front!
Why did I place this trade on 9/24/2014?
- SPY was touching its 50 EMA (see chart)
- bottom of stochastics (see chart)
- probability of success = 73%
On 10/15/2014, SPY hit a low of $181.92 (see chart). My put option was in-the-money by $9.08.
However, I was not at risk of early assignment because there was plenty of "extrinsic" value remaining in my put. So.... I left it open and hoped for a recovery. After all, what goes down must come up, right?
buy to close my put option at $0.03
NET PROFIT: $177.43 SUCCESS!
Learn to SELL PUT OPTIONS and GET PAID up front! It's easy, fun and profitable.
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