Follow me on Twitter!

Wednesday, August 29, 2018

SPX credit put spread (options)

Wednesday, 8/29/2018 (Expiration Wednesday)

Trade 1 (10:20:01 am, PT) SPX trading around 2913

sell -4 August 29, 2018  2910 puts at $1.00    delta 27.30
buy +4 August 29, 2018  2895 puts at $0.05 (cheap wings)


Trade 2 (12:45:13 pm, PT)

buy back short puts (2910) at $0.05 (to remove the risk)
let long puts (2895) expire worthless

PROFIT:  $380 (in 2.5 hours)