Options trade: SPX credit (bull) put spread, 5/5/2021 exp | 488% return

Monday, 5/3/2021

Sell -2 May 5, 2021  4125 puts at $2.02 (prob ITM 8.83%)

buy +2 May 5, 2021  4085 puts at $0.87 (prob ITM 3.73%)

• net credit:  $1.15
• margin (risk):  $8,000
• SPX = 4195.06
• 2 DTE

Wednesday, 5/5/2021 (EXPIRATION)

buy back short puts only (4125 strike) at $0.05 to remove the risk

let long puts expire

SPX settled at 4167.59

NET PROFIT:  $214.19 (2 days)

Return on capital ($8,000):  488% (annualized)

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