Short Put on SPY 75% probability of profit

Dec 6, 2018

After a Gap down, Sold the 254 put for $4 for a 75% probability of profit.

We make money as long as the price stays above 250. It needs to move another 6% down for us to start losing money.

Dec 6, 2018

Note

Target:

Will look to close if we get 50% of the credit received, or $200.

Dec 7, 2018

Note

Here is a video description of this trade and how to make similar trades.

youtube.com/watch?v=WSDskosGQlk

Dec 12, 2018

Trade closed manually

Closed for a $155 profit (original target was $200), but That is over 38% of the credit received and 77% of my original target in 3 trading days which was pretty fast and above average in terms of premium per day for this trade. So decided to take profit.