This option trade is an earning strategy. On 8-28, we setup for a bearish Vertical Option Ichimoku Trade. It had a max risk of $28/contract with a max reward of $472/contract. This is a 1685% return. The chances of getting this % return is very low probability. However, getting a 200% return seemed feasible. The delta on the vertical spread is $21/contract. Therefore, if the stocks move $2, we would be looking close to 200% profit return.
Today, the vertical spread is worth $70/contract. We have exited all our positions on Friday since we reached the major support at 55.10. We realized 250% return.
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