The night of JCP earnings the stock was down over 10% after hours. In my market update video I said on a push to $30 I think the $28 and $27 puts would be worth a high risk trade. Sure enough JCP pushed up at the open and breached $30. At that point the puts were a prime risk trade opportunity. They did not disappoint.
The $27 puts have gone from $.04 to $1.39
The $28 puts have gone from $.15 to $2.28
That's $40 into $1,390 for the $27 strike if you got lucky enough to get in at the low and out at the high.
That's $150 into $2,280 for the $28 strike if you got lucky enough to get in at the low and out at the high.