On Tuesday, I placed an order to sell Apr-30 $225.00 Square puts for $2.10 but the share price rose immediately and my order wasn’t close to being filled so I didn’t check on it anymore that trading session. As it turned out, the price of Square shares did fall enough late in the afternoon for my order to be filled. This naled put trade has the potential to generate an annualized return of 33%.

As with all my naked put trades, I select puts with low deltas which means they have a low probability of closing ITM and producing a losing trade.