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Friday, February 20, 2015

Spiders (SPY) Feb Ratio Put Spread

1/15/2015 (11:11:39 am, PT)

SPY was trading between $199.48 and $199.60 at the time

THIS IS A RATIO PUT SPREAD

+2 February 2015  $199 puts at $4.57
-4 February 2015  $197 puts at $3.87

max credit:  $634
max potential profit:  $1034


2/13/2015 (6:44:09 am, PT)
  • buy to close 2 February 2015  $197 puts at $0.04 to remove the risk
  • leave 197/199 debit put spread open for the potential to make more $$$

2/20/2015 (expiration Friday)

SPY closed at $211.24
debit put spread expired "worthless"

NET PROFIT:  $614.26


Success!



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