Long BIDU by selling Put Spread 170/165

BIDU has been pulled back from 188$. I expect it would start to bounce back from the trend line. Setup the position by selling a put spread.

Position:
Short June 170
Buy June 165

Premium: 1.05$
Target: 50% of the premium.
Breakeven, 168.95$
PoP: 71.35%

İşlem kapandı: hedefe ulaştı:

Closed the position at $0.48.

Profit is $0.57 per contract.