You do not make money on your 1275 Puts if SPX stays above 1275 you only keep credit, between 1275 and 1225 you make money. What is margin requirement and how you hedge if crash happen? It is very risky strategy IMOP. Farooq
Farooq This post is for educational and amusement purposes only, and is not to be interpreted as trading advice. Consult your financial adviser before placing any trade.
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