Follow me on Twitter!

Thursday, November 13, 2014

Spiders (SPY) Nov 192 Put Options

9/24/2014 (9:03 am, PT)

sell to open 5 November 2014 $192 put options at $1.94

I received $970 immediately!

WHY did I place this trade on 9/24/2014?
  • SPY had come back down to its 50 EMA (see chart)
  • bottom of stochastics (see chart)
  • probability of success was 70%

On 10/15/2014, SPY dropped all the way down to $181.92 (see chart)


However, I was not at risk of early assignment because my put option still had plenty of "extrinsic" value remaining.  So, I left my position open.  What goes down must come up, right? 

11/13/2014 (10:41 am, PT)

buy to close all 5 puts at $0.09
  • top of stochastics
  • take profits!

Learn to SELL PUT OPTIONS and GET PAID up front!  It's easy, fun and profitable!
Learn on your own for FREE at You Tube or
Pay for 1-on-1 training (details at