$SPY – took 30% profit on puts in the fool’s game

THE FOOL’S GAME – BUYING CALLS AND PUTS

On the $10K day trade, the weekly SPY in-the-money put, expiring today.

See buy and sell (the yellow vertical line) on the chart below.

The profit was 31%. It is now, at the moment, up 38% for the day. No telling where it will be at the end of the day (will update) but on the last day of a weekly option, the play is take profits quickly when one has them.

(click on the chart for a larger view)

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