buy +6 July 2015 $210 puts at $2.96
sell -12 July 2015 $209 puts at $2.67 (37% probability ITM)
- net credit: $2.38 x 6 x 100 = $1428
- max potential profit: $2028
- stochastics in "overbought" region
7/16/2015 (6:48:36 am, PT) stoch top
buy back 6 July $209 puts at $0.05 to remove the risk
leave open July 209/210 debit put spread for potential profit on 7/17 (expiration)
7/17/2015 (expiration)
SPY closed above $212 so debit put spread expired worthless
NET PROFIT: $1370.27
Success!
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