Replies to post #102047 on Option Millionaires

[Mikey]

omar, how much are you tying up by doing that? as an example....

[goodluckchuck]

I'm unfamiliar with that strategy. Say you pick a GOOG put and sell it. How do you make money on it? Do you have to buy it back before expiration? Does the stock price have to go higher or lower for you to make money on a sold put? What happens if the stock moves in the opposite direction from the way you need it to go? Like the GOOG weekly 615 puts yesterday at 3:00pm went from .15 cents to $17.87 in a couple hours? What causes that? Could one really have bought them @ .15 cents and sold them at $17.00 and made a boatload or was that some smoke and mirrors?