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GSX short put vertical for high credit

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Smooth RSI is extreme oversold, and the IVR is ultra high.
Obvious bounceback play.

Max profit: $240
Probability of Profit: 57%
Profit Target relative to my Buying Power: 47%
Max loss with my risk management: ~$200


Req. Buy Power: $510 (max loss without management at expiry, no way to let this happen!)
Tasty IVR: 88 (ultra high)
Expiry: 35 days


Buy 3 GSX May21' 17.5 Put
Sell 3 GSX May21' 20 Put

Credit Put spread for 0.8cr each, because IVR is extreme high.


Stop/my risk management: Closing immediately if daily candle is closing BELOW the box, max loss in my calculations in this case could be 200$. Probability of loss in this way: ~25% .

Take profit strategy: 65% of max.profit in this case with auto sell order at 0.28db. Probability of profit this way: ~75%.

Of course I'll not wait until expiry in any case!



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İşlem kapandı: hedefe ulaştı
Target reached, 65% of max profit grabbed in 10 days.
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