For my friend ...
sold -7 July 2016 $197 puts at $1.29
Why did I place this trade?
- stochastics in oversold region
- FOMC announcement at 11 am (SPY rose initially, then dropped)
- 80% probability of success
6/29/2016 (9:32:37 am, PT)
buy back all 7 puts at $0.47
NET PROFIT: $552.64
SUCCESS!
