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Wednesday, June 29, 2016

Spiders (SPY) Put Options

6/15/2016 (12:43:30 pm, PT)  RD

For my friend ...

sold -4 July 2016  $201 puts at $2.08

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 (9:30:40 am, PT)

bought back all 4 puts at $0.95

NET PROFIT:  $439.78

SUCCESS!