... for a .40/contract credit. Good ol' "buying"* on weakness ... .
Metrics:
Probability of Profit: 71%
Max Profit: 40/contract
Max Loss: 160/contract
Break Even: 248.60
Notes: I entered the defined risk spread in my kid's small account and the naked variant (the May 19th 249 short put; 3.55/contract; break even 245.45) in mine. Will shoot for 50% max ... .