+2 April 2015 $207 puts at $2.51 (debit)
-4 April 2015 $206 puts at $2.27 (credit)
net credit: $2.03 x 2 x 100 = $406
"max" profit: $406 + ($207 - $206) (2) = $606
probability of expiring ITM ($206 put): 34%
Why did I place this trade?
- stochastics in overbought region
3/26/2015 (12:54:50 pm, PT)
sell (to close) the 2 long ($207) puts at $3.62 (credit)
4/9/2015 (1:10:01 pm, PT)
buy (to close) the 4 short ($206) puts at $0.52 (SPY was around $208 at the time)
NET PROFIT: $888.80
Success!
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