+4 Aug 28, 2015 $217 calls (16% prob ITM)
-4 Aug 28, 2015 $216 calls (21% prob ITM)
-4 Aug 28, 2015 $205 puts (25% prob ITM)
Net credit: $1.52
8/21/2015 (8:19:55 am, PT)
Roll Aug 28, 2015 $205 puts to Sept 2015 $205 puts
Net credit: $2.14 (nice)
8/24/2015 (8:20:54 am PT)
- Dow dropped 1000 points at the Opening Bell
- Roll Sept 2015 $205 puts to Oct 2015 $205 puts
- Net credit: $0.75
8/28/2015 (expiration)
- SPY closed at $199.24
- Credit call spread expired perfectly
9/18/2015 (10:46:18 am, PT)
- Roll Oct 2015 $205 puts to Nov 2015 $204 puts (roll down 1 strike)
- Net credit: $0.65
10/22/2015 (1:02:45 pm, PT) stoch top
buy back all 4 Nov 2015 $204 puts at $2.50
NET PROFIT: $994.31
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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