4/25/2014 (Fri)
+4 June 2014 $178 puts at $1.69
-8 June 2014 $177 puts at $1.52 (probability ITM = 23%)
Net credit: $1.35
6/11/2014 (Wed)
buy (to close) 4 June 2014 $177 puts at $0.03
Let the 177/178 debit put spread expire on June 20 (unless SPY goes down)
NET PROFIT (as of June 11): $511.57
Note: if SPY dips below $178 on June 20, my debit put spread will become profitable.
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