JNJ

Long JNJ via short put spread.

Short Mar16 125/130 put spread for $1.10.

POP: 69%
BPR: $390
Max loss: $390
Max Win: $110
Target: 50-60% of credit received
Stop loss: Price at $127 or $350ish loss.


short 130 put: 37 delta
long 125 put: 15 delta

If this starts to get really ugly, I may pull off before $127.

Trade closed: target reached:

Trade took today for 50%, $.55/spread.