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THis is very similar to Tim's actual trade. The problem is that the green line is the current price-- so small movements will result in a loss. A rise in IWM will result in a bad loss unless stopped out at say at 1% loss 

Increased volatility also helps this trade

Comments

The DirectorThe Director
Trade is long 10 puts at 139 strike with expiration 11/17/17 1 week 6 days ago
SinglemaltSinglemalt
Probability of expiring OTM is 49.73% and the delta is -.48 as of Friday's close. 1 week 6 days ago
The DirectorThe Director
Sounds about right. Keep in mind even if in the money the option loses money unless profit exceeds cost of option and commissions. This works best for a sudden sharp move down in next few days 1 week 6 days ago