SPY was trading between $199.48 and $199.60 at the time
THIS IS A RATIO PUT SPREAD
+2 February 2015 $199 puts at $4.57
-4 February 2015 $197 puts at $3.87
max credit: $634
max potential profit: $1034
2/13/2015 (6:44:09 am, PT)
- buy to close 2 February 2015 $197 puts at $0.04 to remove the risk
- leave 197/199 debit put spread open for the potential to make more $$$
2/20/2015 (expiration Friday)
SPY closed at $211.24
debit put spread expired "worthless"
NET PROFIT: $614.26
Success!
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