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Friday, December 28, 2012

January 2013 SPY Credit Put Spread

SELL 11 SPY 134 Jan. 2013 PUT (@0.78)
BUY 11 SPY 132 Jan. 2013 PUT (@0.56)


Credit: $0.22 (0.22 * 100 * 11 = $242)
Margin: $1.78 (1.78 * 100 * 11 = $1958)

Break-even point: 133.78 (Around 140.50 when I opened the trade)
Probability of success: 77.00% when the trade was opened
Days to expiration: 21
Max return on margin: 12.36%
Commissions: $33.00 (Assuming a very unfavorable $1.50 per contract)

Below is the chart of SPY at market close for future reference.

(Click on image to enlarge)



Check out Track Record for 2013

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2 comments:

  1. Nice little trade, are you letting it expire or going to Roll it?

    ReplyDelete
  2. Just letting it expire. The markets killing me on the other side though

    ReplyDelete