BUll Put spread ( selling premium )

Options trade credit spread:
11:51 sell put expires 15 OCT
10.50 buy put .......0.15 credit paid * 4400 = $660

goldmann Sachs : buy rating target price 16.30 in 12 months

Trade active: With price below my sold strike level of 11.51 it needs to rally > 11.36 for breakeven
not factoring brokerage. As I have a European option I can wait until expiry day before getting exercised, which it likely will be if in the money very much.
I am prepared to purchase this stick 50K worth if required, this is part of my strategy.
The idea is that I can switch to covered calls or just wait until the price rallies back above my initial strike level of 11.51 ( but add cents for lost brokerage so normally looking about 11.61) to get out. Then I effectively keep my initial credit spread premium am not interested in buying and holding this particular stock.
Otherwise the next idea is to hold the stock if it keeps falling, and sell calls above at my initial sold put strike at 11.50. That way I can earn a bit more until the stocks recovers - but if it does rally back fast I will forced to sell the stock at 11.50 which is perfectly fine as I keep two lots of sold premium ( over two months of trading).
Trade closed: target reached

Trade to make a living,
Not a fortune...

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