It took a little less than 3 weeks to realize my target return of 16.39% on this trade. Here is the original trade: ISRG Mar 12 Put Vertical (Credit Spread).
With the underlying strength in the market, no adjustments had to be made. Below is the current price chart of ISRG:
The image above shows my entry on a breakout day with good volume. Implied volatility (red) was slightly elevated relative to recent times and RSI was at overbought levels. IV remained just about at the entry level and RSI remained at overbought throughout the life of the trade. Below are the stats I watch for this type of trade:
As you can see, the spreads sold hit my target so I realized my target return of 16.39% with just about 2 weeks left until expiration.
