$SPY BULL short put spread 90% PoP, 20% profit #options #option

After a beartrap switched back to bullish view with large ETF-s.
First of all: SPY

Max profit: $204
Probability for 50% of Profit: %90
Profit Target relative to my Buying Power: 20%

Req. Buy Power: $996 (max loss without management before expiry, no way to let this happen!)

Expiry: 22 days

Buy 3 SPY Jul16' 420 Put
Sell 3 SPY Jul16' 416 Put

Credit Put spread for 0.68cr each.

Stop/my risk management: Closing immediately if daily candle is closing BELOW the box, max loss in my calculations in this case could be 350$.

Take profit strategy: 65% of max.profit in this case with auto sell order at 0.24db.

Of course I'll not wait until expiry in any case!

If you liked this article, check my other ideas.

Anyway: HIT THE LIKE BUTTON BELOW, and for fresh option ideas FOLLOW ME( @mrAnonymCrypto ) on tradingview!

Trade closed: target reached

Closed at original 65% profit target.

TanukiTrade

Boost up your charts with Options PRO!

REAL Options metrics for over 165+ liquid US symbols:
✔ 𝗔𝘂𝘁𝗼-𝗨𝗽𝗱𝗮𝘁𝗶𝗻𝗴 𝗚𝗘𝗫 𝗹𝗲𝘃𝗲𝗹𝘀
✔ IVRank ✔ CALL/PUT skew ✔ Volatility Skew ✔ Delta curves

👉 7-day TRIAL 🌐 TanukiTrade.com

Also on:

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.