Update – Procter & Gamble (PG) Put Fly

by CC November 10, 2016 10:47 am • Trade Updates

Back on October 10th we looked at Procter & Gamble and express eda bearish view with a December put butterfly targeting the 82.50 area. Here was the trade:

*PG (89.25) Buy the Dec 90/82.5/75 put butterfly for 1.95
  • Buy 1 Dec 90 put for 3.20
  • Sell 2 Dec 82.5 puts at .75 (1.50 total)
  • Buy 1 Dec 75 put for .25

With PG now at strike and some time left until December expiration, the trade is obviously not at full potential value. But it is still a nice profit here and with the way different sectors are suddenly whipping around post election, it makes sense to take profits when you have the chance as the stock is unlikely to hang around here and stall. There’s some crazy volatility happening sector to sector as big funds seem to be in the midst of a rotation they were not prepared for. We’ll take a nice profit and move on:


Sold to close the PG (82.50) Dec 90/82.5/75 put fly at 4.25 for a 2.30 profit
  • Sold to close 1 Dec 90 put at 7.75
  • Bought to close 2 Dec 82.5 puts for 1.90 (3.80 total)
  • Sold to close 1 Dec 75 put at .30