And for the past two months… UPS did nothing that required an adjustment. And it’s pinning 100.
This is what I’d call a “lotto ticket” outcome on an income trade. Great return on risk, but don’t expect this to happen every single time.
Buy to close UPS MAR 100/105 call spread @0.47
Buy to close UPS MAR 100/95 put spread @0.35
Can you try and milk it further? Sure, just have a range that if breached you bail on the trade.
Total return on risk is 215%.