Long IBM by selling June Put Spread 150/140

IBM has been pulled back form 184 for almost 30$. After the news of Buffet reduce 1/3 of his position, IBM gap down but start to bounce back. RSI and CMO both showed oversold signal. I would like to set up this position long IBM.

Position:
Credit Put Spread: -1x, June 150/140,
Premium: 1.2$
Break Even: 148.8$
PoP%: 75%
Target: 50% of the premium.

In case IBM continue going down, I am ready to be exercised and get IBM stocks with $148.8 per share.

Trade closed: target reached:

Bought back at 0.6. Took $60 profit.