Prices bounced off support from 24 Feb level (start of the red support line in the chart), had a double bottom (30 March and on 11 April), which gives a strong signal of solid support and most likely prices to move up from here. Friday 13 April 2017 it bounced off the support line and had a strong up move. Next trading day 17 April it followed through the trend and prices kept moving up. Tuesday 18 April prices opened near 17 April’s close and started moving up and that when I decided to take the trade. Though prices came back down strongly but hold the support for next 4 days till the expiration.
Sold a $262.50 strike Put and bought a $260.00 strike put, and for this spread, received $0.10 credit per contract. So, had 3.12% return on my investment capital just for 4 days. Took the trade on 18 April 2017 and expiration date was for 21 April 2017, it was a weekly options.