TRADE IDEA: SPY OCT 19TH 233/235 LONG PUT VERTICAL
Risking one to make one at all time highs in a low volatility environment ... .
Metrics:
Probability of Profit: 52%
Max Profit: 1.01 ($101)/contract
Max Loss/Buying Power Effect: .99 ($99)/contract
Break Even: 294.01
Theta: .10
Delta: -10.1
Notes: If it fills, it fills ... . Will look to take profit at 50% max.
Metrics:
Probability of Profit: 52%
Max Profit: 1.01 ($101)/contract
Max Loss/Buying Power Effect: .99 ($99)/contract
Break Even: 294.01
Theta: .10
Delta: -10.1
Notes: If it fills, it fills ... . Will look to take profit at 50% max.
Comment:
Now that I think about it, will probably go with the same spread in the November cycle. More time to be right, along with possible jitters surrounding mid-term election uncertainty: the same spread in November costs a touch less at .84/contract, with a 1.16 max and a break even of 294.16.
Comment:
Filled on the Nov 293/295 long put vertical for .82/contract at the open ... .
Trade closed manually:
Covering here for a 1.03/contract debit, .21 profit/contract (25.6% ROI).