Thursday, May 10, 2012

expiring $PCLN credit put spreads for $595 profit

15 jun - another credit spread i had to wait almost to opex to see a profit..tests your nerve sometimes..especially when it dropped to near 600. actually an impressive month if you look closely...dropped about 80 points from my entry area, then rebounded 60points off the low for the month..crazy... expired today at max profit

June 615/620 credit put spreads x 7 =$595


9may - entered per this setup on 9may, could have got better price today on JPM hubbub but i never expect to get the bottom.

Sell the Jun 615/620 credit put spread at .85 credit

82%probability of max profit at time of entry


seems to be holding the mid 680's today after getting whipped around right after earnings. tagging this low at 680ish from few weeks ago.. now be looking at new credit put spreads using the top of the gap from previous earnings as level to shoot any spreads at/below the 620/625 fat crayon level..Trademonster shows the jun615/620 spread has 82%probability of max profit.