New position: ODAX Dec 2017 Credit Put Spread

Summary

This morning, after about 5% decline in ten days or so and the IV (Implicit volatility) at 16, I opened a 12200 - 11800 Credit Put Spread aiming for the December expiration cycle.

DAX on November 15th 2017. Source Investing

Only 30 days until expiration and not too much delta, so the credit received is rather small. I´m betting on some sideways action on the former 12800-12900 resistance level.

Trade details

Type	Name	Open Date	DTE	Spot	Max Win	Max Loss
Put Spread	ODAX Dec 2017 12200/11800	15/11/2017	30	12900	113,50 €	1.887,50 €

Profit / loss graphic. Source OptionsCreator

Above profit/loss graphic show that we are good as long as we close over 12200, while max damage is reached at 11800. Adjustment (closing) point is 30 delta this time.

You can see all the trade details here.

See also

• Closed: November 2017 Iron Condor and Debit Spreads
• 2017 trades (so far)