Long GM by shorting June 32 Put
GM has been pulled back from 38. It is time to long GM. Setup the position by selling short of the Jun 32 Put.
Position: Short June 32 Put
Credit received: 0.62
Target: 50% of the premium (0.32).
Position: Short June 32 Put
Credit received: 0.62
Target: 50% of the premium (0.32).
Note
Break Even point: 31.38Trade closed: target reached
Buy back the position by $0.27. The profit target is reached.Profit: $0.35 per contract.
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