For my friend's mother ...
sold -8 July 2016 $194 puts at $1.01
Why did I place this trade?
- stochastics in oversold region
- FOMC announcement at 11 am (SPY rose initially, then dropped)
- 85% probability of success
6/29/2016 (9:31:15 am, PT)
buy back all 8 puts at $0.27
NET PROFIT: $567.60
SUCCESS!
