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Tuesday, March 8, 2016

Spiders (SPY) March Puts

2/10/2016 (12:36:38 pm, PT)

sold -1 March 2016  $177 put at $3.11

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


3/8/2016 (11:14:52 am, PT)

buy back my put at $0.05 to remove the risk and take profits

PROFIT:  $306

SUCCESS!