sell -10 July 2015 $195 puts at $0.82 (12% probability ITM)
buy +10 July 2015 $185 puts at $0.36 (5.43% probability ITM)
Net credit: $460
7/13/2015 (6:30:02 am, PT)
- buy to close the July $195 puts at $0.03 to remove the risk
- let the July $185 puts expire on 7/17/2015
NET PROFIT: $399.16
Success!
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