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!
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