Strategy: Put Ratio Spread (Buy 1, Sell 2)
Expiration: 25 SEP 26 (28 DTE)
Strike Price: Buy 1 108.5, Sell 2 108
My Execution Fill: 0โ29 ($453.12)
๐ Quantitative Metrics at Entry
Delta (ฮ): 0.27
Implied Volatility (IV): 79%
IV Rank (IVR): 29
Probability of Profit (POP): ~73%
๐ ๏ธ Structural Management Targets
Profit Objective: 50% of max premium
Defensive Plan: If the underlying breaches the 108 strike, our rule dictates closing the debit put spread and rolling out the remaining short put in duration to the next liquid cycle for a net credit or cutting the position if tail-risk thresholds are exceeded.