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Friday, February 3, 2017

Spiders (SPY) Put Options

Wed. 2/1/2017 (10:10:47 am, PT)

sell short  −10 Feb 3, 2017  $226.50 puts at $0.36
  • credit received:  $360
  • probability of success: 70%

Fri. 2/3/2017 (8:12:16 am, PT)    Expiration Friday

buy back puts at $0.01

Comment:  Even though my put options were $3 out-of-the-money on Expiration Friday, I decided to go ahead and spend 1 cent ($10 for 10 contracts) to buy back my puts to avoid any last-minute disasters.

PROFIT:  $350 in 2 days!


SUCCESS!