sold (to open) 2 June 2014 $160 puts for $1.15
(I received $230 in cash)
Reasons for placing this trade on 5/20:
- Bottom of stochastics ("oversold") (see chart)
- Dow dropped over 100 points which brought DIA down to the 50 EMA (see chart)
- Probability of success: 70%
6/17/2014 (4 days left until expiration)
bought back puts for $0.02
NET PROFIT: $217.39
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