Ratio put spread
buy +2 June 2015 $206 puts at $3.830
sell -4 June 2015 $205 puts at $3.525
Why did I place this trade?
- stochastics were in the overbought region
- credit received: $644
- maximum potential profit: $844
6/17/2015 (10:26:12 am, PT)
Bought back 2 short puts ($205 strike) at $0.34 to remove the risk.
FOMC was scheduled to make their announcement at 11 am, PT.
6/19/2015 (expiration)
SPY closed above $210, so debit put spread expired "worthless."
NET PROFIT: $563.27
Success!
SELL PUT SPREADS and GET PAID up front!
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