NaughtyPines

TRADE IDEA: SPY JUNE 17TH 191/194 SHORT PUT VERTICAL

AMEX:SPY   SPDR S&P 500
Looking to add some long delta to my SPY             core position here on this weakness. As always, small tweaks where the opportunity presents itself ... .

Metrics:

Probability of Profit: 83%
Max Profit: $39/contract
Max Loss/Buying Power Effect: $261/contract
Delta: +4.45/contract
Comment: Filled for $38/contract ... .
I am on the other side of this trade. Have a bunch of May puts and debit put spreads. Somewhat hedged by owning VIX 18 May puts.
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Breaking SPX 2040 level will be painful for the Market
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I'm really only throwing a little bit of long delta on here because I probably got a touch too frisky with short call credit spreads toward the top of the up move, so my core SPY position is skewed a touch too short for my tastes. Want to add a touch of protection in the event we whip back up to the high side.
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baerrus PRO NaughtyPines
You should post your charts on http://optionsforum.net Your options trading ideas will be more appreciated there :)
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I'll check it out. I've been looking for something like that for eons. StockTwits has a few, but the site is geared toward individual equity buying/selling (which I haven't done for ages). Tyvm.
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