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Showing posts with label SPX Oct 3 2022 3500/3575 credit put spread. Show all posts
Showing posts with label SPX Oct 3 2022 3500/3575 credit put spread. Show all posts

Monday, October 3, 2022

Options trading : SPX semi-bullish trade (credit put spread)

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10/3/2022 (9:54 am, PT)

sell -1 Oct 3, 2022  3575 put at $0.50 (prob ITM 3%)

buy +1 Oct 3, 2022  3500 put at $0.05

  • net credit: $0.45
  • 0 DTE


10/3/2022 (expiration) 

SPX settled at 3678

my put spread expired perfectly

PROFIT:  $45 (in 3 hours)


NOTE:  When I placed my trade at 9:54 am, I could tell that SPX was going to keep rising today.  Thus, I could have chosen a short put that was closer "to the money" (i.e., higher strike price) OR I could have sold more contracts.  However, in the end, I chose to play it safe and opted for a relatively easy trade with a high probability for success.