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Friday, January 29, 2016

Spiders (SPY) Put Options

1/27/2016 (12:00:55 pm, PT)

sell -1 Feb 5, 2016 (week 1)  $183 put at $1.11

Why did I place this trade?
  • SPY down post-FOMC
  • high implied volatility
  • probability of success:  80%

1/29/2016 (11:25:18 am, PT)

buy back put at $0.18 (take profits)

PROFIT:  $93 (in 2 days)


When implied volatility is high, 
SELL PUTS to take advantage of inflated premiums.
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