"short put butterfly strategy, buying 20,000 lots at the June 83 strike for $2.23 and selling 10,000 lots at the 84 strike for $2.23 and against at the 86 strike for $3.15, initiating the trade with a 4-cent credit per contract"
does "buying 20,000 lots" mean buying puts? does "selling 10,000 lots" mean selling puts? does "against at" mean selling 10,000 puts? does "4-cent credit" mean $800? how do $2.23 and $2.23 and $3.15 end up at 4 cents?
Tuesday Options Outlook: XLE, LEH, NSM, DRIV, MVL, RIGL, QCOM [View article]
does "buying 20,000 lots" mean buying puts?
does "selling 10,000 lots" mean selling puts?
does "against at" mean selling 10,000 puts?
does "4-cent credit" mean $800?
how do $2.23 and $2.23 and $3.15 end up at 4 cents?