Sold MDY Put Option Combination

I made the first trade in my new account that was funded today. I bought an MDY put and sold 2 different MDY puts at a lower strike to pay for the long put. While MDY was trading at $306.01, I bought to open one MDY $305 put for $11.05 and sold two MDY $290 puts for $6.29 each. I received $152.69 for the ratio spread that hit at $1.53 after I paid $0.31 in commission. My order was for $1.45, but realized after I finished the video below that it hit for $1.51, only after I lowered the limit order to $1.45 from $1.50. That has happened to me previously with Interactive Brokers and is always a bonus to get more than you agree to accept.

I’m considering a naked put on IWM next, but with the chart set-up, I thought I should give it another day or two.

You can see my trade logic in this video that I recorded as I placed the order through it being triggered.

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