Trade 1 (10:33:36 am, PT)
sell -4 August 27, 2018 2890 puts at $0.70
buy +4 August 27, 2018 2870 puts at $0.05 (cheap "wing")
Stats:
- short put delta = 19.60
- SPX trading at 2895.53
- net credit (max profit) = $0.65 x 4 x 100 = $260
Trade 2 (12:42:58 pm, PT)
buy back all short puts (2890) at $0.05
PROFIT: $240 (in approx. 2 hours)
Note: SPX closed at 2896.74 at 1 pm, PT
Learn to SELL PUT OPTIONS!
