sell -2 Feb 2016 $165 puts at $0.53 (credit)
Why did I place this trade?
- stochastics in oversold region (see scary-looking chart HERE!)
- high implied volatility
- probability of success: 92.37% (very high)
2/4/2016 (7:16:23 am, PT)
Click HERE to see chart (notice stochastics in overbought region?)
buy back both puts at $0.05 (debit)
PROFIT: $96
SUCCESS!
SELL PUTS when the IV is high and GET PAID UP FRONT!
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