stochastics top
+7 Aug 28, 2015 $217 calls at $0.67 (18% prob ITM)
-7 Aug 28, 2015 $216 calls at $0.95 (23% prob ITM)
-7 Aug 28, 2015 $204 puts at $1.18 (23% prob ITM)
Net credit: $1.46
8/12/2015 (6:30:02 am, PT)
stochastics bottom
buy back all 7 of the $216 short calls at $0.05
8/24/2015 (7:09:04 am, PT)
The Dow dropped 1000 points at the Opening Bell
Roll to Nov 2015 $204 puts
Net credit: $3.89 (nice!)
8/28/2015 (expiration)
The Aug 28, 2015 $217 long calls expired "worthless"
10/22/2015 (10:40:11 am, PT)
buy back all 7 Nov $204 puts at $2.64
GROSS PROFIT: $1862
Success!
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If your trade goes against you, you can make adjustments so you'll be profitable in the end.
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