Today, at the highs off the open, we legged into four S&P 500 Futures Put Options, over four transactions. We started nibbling at the 1585 Strike Put that opened at $5.75, when it got down to $5.50, and were able to get one contract filled as low as $5.25, which as it turns out was the lowest sale of the day (see Low, yellow highlighted, above). We sold one contract less than three minutes after the last buy to lock in some gains right away. The futures started to really move lower and we sold another contract at $7.75. The last trade came as the cumulative tick readings were at their lowest of the day, so we went flat selling the last two contracts for $8.25. All in all, making $437.50 in ten minutes time, for roughly 50% profit.
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