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Friday, January 29, 2016

Spiders (SPY) Feb Put Options

1/8/2016 (10:24:10 am, PT)

sell -2 Feb 2016  $186 puts at $2.92

Why did I place this trade?
  • stochastics in oversold region
  • high implied volatility
  • probability of success:  70%

1/29/2016 (9:39:56 am, PT)

buy back both puts at $1.41

Why?  To take profits.

PROFIT:  $300 (in 3 weeks)


SUCCESS!



Implied volatility is high!  
SELL PUTS to take advantage of inflated premiums.
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