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Wednesday, June 29, 2016

Spiders (SPY) Put Options

6/15/2016 (12:02:05 pm, PT)  RD

For my friend .....

sold -4 July 2016  $202 puts at $2.12

Why did I place this trade?

  • stochastics in oversold region
  • FOMC announcement at 11 am (SPY rose initially, then dropped)
  • 70% probability of success


6/29/2016 (9:31:51 am, PT)

buy back all 4 puts at $1.15

Why did I close this trade?

  • take profits!

NET PROFIT:  $375.77

SUCCESS!