Description
⋅ 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). Comment
⋅ Break Even point: 31.38
Trade closed: target reached
⋅ Buy back the position by $0.27. The profit target is reached.
Profit: $0.35 per contract.