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Wed. 3/30/2022
sell -2 April 29, 2022 $11 puts at $0.80 (probability ITM 39%)
buy +2 April 29, 2022 $6 puts at $0.01 (probability ITM 0.92%)
- net credit: $0.79
- margin: $498
- UVXY = $12.48 (+0.13)
- oversold
- 30 DTE
Wed. 4/13/2022
buy back both short puts ($11 strike) at $0.07
let long puts expire
NET PROFIT: $140.04 (in 14 days)
Reasons for closing the trade:
We've achieved our goal of 50% of "max profit"
