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| Look for a bearish market where you anticipate a modest decrease in the price of the stock below the strike price of the short Put option. |
GLD $159.18
Buy to Open (1) Nov 11 164 P @ $9.50
Sell to Open (1) Nov 11 159 P @ $6.50
Net Debit: $3.00 ($300.00)
Breakeven: $161.00
Max. Profit: $200.00
Pct Return: 66.6% (41 days)
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