Yes, but that means there is only a 43% chance of making money.
From:
Sent: Monday, August 17, 2009 12:31 AM
To:
Subject: [TheOptionClub.
The mid price on the spread was $17.05 when I looked at it, and there was more than ten of these type of trades in the spread book so I am assuming these were trades that were STO's. But you're right, you dont know if someone was getting out! It just looked very interesting putting on a trade with a potential of a 57% return so close to expiration. As Viky pointed out in his post, with a couple of adjustment ideas, this looks like a trades that you have to babysit for a few days but the potential return could be well worth it.
Thanks!
Rich
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