CRCL Put Spread Recap – $244 in the Books

 Vertical Spread on CRCL Nets $244

In the fast-moving world of options trading, some trades are quick hitters—and that’s exactly what this CRCL $212.5 put spread turned out to be.

---

📊 Trade Details

• Sold 1 CRCL $212.5 Put @ $3.70

• Bought 1 CRCL $212.5 Put @ $1.25

• Net Credit: $2.45

• Max Profit: $245

• Profit Captured: $244

• Expiration: June 20, 2025

This defined-risk vertical was a smart way to play short-term directional bias while managing downside exposure tightly.

---

🧠 What Worked

• Theta Decay: With a short time to expiry, time value was on my side.

• Tight Spread Management: Locked in most of the credit before expiration, avoiding pin risk.

• Defined Risk: The setup made risk control effortless—$255 risk for $245 reward.

---

✅ Final Thought

Vertical spreads like this are excellent for high-conviction setups when you want capped risk and capped reward. One day, one setup, and one solid win.