IWM February Put Options

1/20/2015 (12:20:58 pm, PT) LL

-2 February 2015 $115 puts at $2.36 (credit)

Why did I place this trade?

• price approaching 200 EMA (possible support?) (see chart)
• stochastics in "oversold" region (see chart)
• high implied volatility (= high premiums)
• probability of success:  56%

2/6/2015 (9:56:20 am, PT)

buy (to close) both puts at $0.39 (debit)

Why did I close this trade?

• price at top of range (see chart)
• stochastics in "overbought" region (see chart)
• TAKE PROFITS!!

NET PROFIT:  $387.88  (ROC 1.686% in 17 days)  

Success!

SELL PUT OPTIONS and GET PAID immediately!

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