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Wednesday, March 9, 2022

Option trade : General Mills (GIS) bullish trade

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Wed. 6/23/2021

sell -1 August 20, 2021  $57.50 put at $1.20

  • prob ITM: 37.58%
  • oversold
  • 58 DTE
  • earnings release on June 30 before market open


Wed. 8/11/2021

buy back short put at $0.20

NET PROFIT:  $98.67 (49 days)


Reasons for closing trade:

  • take profits
  • avoid assignment
  • 9 DTE
  • stochastics at 47
  • GIS = $58.81
  • prob ITM:  16%


NOTE:  On August 20, 2021 (expiration), GIS closed at $60.30.