Spiders (SPY) Credit Diagonal Spread

Mon. 1/9/2017 (9:13:40 am, PT)

sell short  −4 Feb 10, 2017  $223 puts at $1.45

Comments:

• credit (cash) received:  $580
• long wings:  +4 Apr 21, 2017  $140 puts (to reduce capital requirements)
• buying power effect:  ($33,200)

Tue. 1/24/2017 (9:13:52 am, PT)

buy back puts at $0.68 (50% of max)

PROFIT:  $308 (in 2 weeks)  😀

SUCCESS!