FREE OPTIONS TRADING LESSONS HERE.
9/12/2022
sell -1 Oct 21, 2022 $98 put at $1.10 (prob ITM 17.60%)
buy + 1 Oct 21, 2022 $57 put at $0.01 (prob ITM 0.15%)
- GOOGL = $110.70
- margin: $571
- oversold
- 39 DTE
10/17/2022 🠈🠈 4 DTE
buy back the short put at $1.00
PROFIT: $7.01
NOTES:
This was a difficult trade.
On 9/30/2022, the premium for the $98 put reached a high of $4.76, so I had a "paper loss" of $367 that day.
On 10/13/2022, GOOGL dropped to $94.38, so my $98 short put was almost $4.00 in-the-money (bad).
After all these challenges, I decided the best thing to do was to break even on the trade.
