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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. |
TLT $116.71
Buy to Open (1) Jan 12 120 P @ $5.55Sell to Open (1) Jan 12 115 P @ $2.64
Net Debit: $2.91 ($291.00)
Breakeven: $117.09
Max. Profit: $209.00
Pct Return: 71.8% (40 days)
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