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NaughtyPines
Aug 31, 2020 1:58 AM

OPENING: /ES OCTOBER 16TH 3550/3560 LONG PUT VERTICAL Short

E-mini S&P 500 FuturesCME

Description

Metrics:

Max Loss: $250
Max Profit: $250
Break Even: 3555

Notes: In a fit of boredom, putting on a small risk one to make one long put vertical here with max profit realized on a finish below 3550. This seems counterintuitive, since the short put is monied, and you generally don't get a risk one/make one spread without straddling the strikes across the money. In this particular case, it's due to skew. In any event, will look to start to take profit at 25% max.

Trade closed manually

Covering here for .38/$38 winner. Got plenty of other short delta stuff on and don't want to hang out long in what was basically a "boredom" trade.
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