Closing Trade – SSO ratio put spread

Stock / Symbol: ProShares Ultra S&P500 ETF / SSO
Option Strategy: ratio put spread
Price at trade open on Oct 26th: $41.93
Price at trade close: $46.98

Reasoning: This no cost market hedge has served us well. We could wait till Friday for this spread to expire worthless and keep the $11 premium we took in but we want to free up the capital required for this trade now.

Trade Details:

STC (sell to close) 1 SSO Dec10 40 Put @ $0.01
BTC (buy to close) -2 SSO Dec10 37 Puts @ $0.01
for a net debit of $0.01 per contract


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