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Wednesday, June 29, 2016

Spiders (SPY) Put Options

6/15/2016 (11:39:04 am, PT)  FP

For my friend's mother ....

sold -10 August 2016  $180 puts at $1.05

Why did I place this trade?
  • stochastics in oversold region
  • FOMC announcement at 11 am (SPY initially rose, then dropped)
  • 89% probability of success


6/29/2016 (9:08:53 am, PT)

buy back all 10 puts at $0.50

NET PROFIT:  $519.46 (in 2 weeks)

SUCCESS!