Small Weekly Put Position on SPY

I bought 10 NOV5 142 puts on the SPY for 0.25.  This is a $250 bet that the market pulls back into the close.  Need about a 4 point decline to break even on this trade but anything more than that, the profits will accumulate rapidly.  If the market does not pull back, these options will expire worthless at the close of the trading day.

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Posted on November 30, 2012, in Jeffs 3k-100k. Bookmark the permalink. Leave a comment.

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