NaughtyPines

OPENING (IRA): SPY SEPTEMBER 11TH 295 SHORT PUT

Long
AMEX:SPY   SPDR S&P 500 ETF TRUST
... for a 2.82 credit.

Notes: Sold the short put nearest 16 delta in the expiry nearest 45 days until expiry. Running until expiry at which time it'll either (a) expire worthless or (b) be in-the-money, and I'll be assigned shares. If assigned shares, I'll proceed to sell call against at the strike nearest break even, which here is 292.18.

Trade closed manually: Out for .37 with 17 days to go. In for 2.82, out for .37, 2.45 profit/contract (86.9% max).

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