One would think if the index was slotted to close at 297,that would be the strike to be short.Looks like there are several apx 10-1 plays.Or why not slap on some 4 -5 point wide 297 flys for .15.
Heck why stop there, let's go all-in full retard. It would have a price of $100 if it his 307 at expry. There you go!!! Now excuse me, I have a plate of dirt I want to eat.
Sorry the sarcasm is escaping me. Buying 307 PUT would be worth $10 intrinsically if SPY hit 297, no?
The sarcasm wasn't directed towards you. There were two concurrent threads both of which should have ended with Gaussians reply: "this will end badly... don't help the OP." Instead they both go on and on. The risk 1 to gain 100, now, no longer allows me to say there are no such thing as stupid questions. I always enjoyed saying that. Having that taken away from me, upsets me.
No need to apologize, you must be feeling like ... So please do some reading prior to asking your questions... Google and Wiki are great gifts from the Gods to mankind...
Hi there, I was referring to an option position known as a butterfly.I quickly looked at the screen and noticed the 12/6 301/297/293 Butterfly was trading around 17 cents. If you are correct and the SPY closes at 297 on 12/6,the butterfly will be worth 4 dollars.. Google Butterfly option and ask away