CMG coming off the floor again:
Our LTP position is still playable:
- Sell 5 2018 $400 puts for $47 ($23,500)
- Buy 10 2018 $430 calls for $92 ($92,000)
- Sell 10 2018 $520 calls for $52 ($52.000)
That's net $16,500 on the $90,000 spread that's $25,000 in the money at $455. Potential profit is $73,500 (445%) and ToS says margin on 5 shorts is $20,000 – so pretty efficient way to make $73,500!