NaughtyPines

Opening (IRA): SPX November 12th 4050/4100 Short Put Vertical

SP:SPX   S&P 500 Index
... for a 4.40 credit.

Comments: Selling the 16 delta put, buying the long 50 strikes out from there; it pays what it pays. 9.6% ROC at max as a function of buying power effect; 4.8% at 50% max. Generally, will look to take profit at 50% max.
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