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Friday, May 4, 2012

June SPY Bull Put Spread

Demo-trading:
SELL 14 SPY June 131 Put (@1.28)
BUY 14 SPY June 129 Put (@0.98)

Credit: $0.30 (0.30 * 100 * 14 = $420)
Margin: $1.70 (1.70 * 100 * 14 = $2380)

Break-even point(s): 130.70 (Currently at 138.00, SPX index would need to go down more than 70 points in the next 42 days to cause a loss)
Probability of success: 77.91%
Days to expiration: 42
Max return on margin: 17.65%
Commissions: $42.00 (Assuming Interactive Brokers' schema for Canadians)

Order execution:
(Click on image to enlarge)
 
Profit picture:
(Click on Image to enlarge)
 
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