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4/14/2022
sell -1 May 20, 2022 $386 put at $1.46 (prob ITM 9.27%)
buy +1 May 20, 2022 $300 put at $0.21 (prob ITM 1.22%)
- net credit: $1.25
- oversold
- 36 DTE
- SPY = $438 (- 5.17)
5/16/2022
buy back the entire spread for $1.20 to remove the risk
Note:
Even though there were only 4 days left until expiration, this trade had become too risky. Thus, my goal was to get out and break even.
NET PROFIT: $2.34
