The December 1 Bear Put Spread on Eli Lilly (LLY) delivered a quick, clean win as the stock pulled back sharply over the past two sessions. While this structure offered meaningful upside into January expiration, I don’t specialize in long-dated debit spreads—and with momentum already cooling, price rejecting the upper stretch zone, and a solid early move in my favor, I chose to lock in the gain.
The risk/reward was no longer as attractive after the swift drop, and given my weekly income rhythm (~$500/week), banking $337 in under 48 hours made sense.
Trade Recap
Structure: Bear Put Spread
Expiration: Jan 16, 2026
Strikes: 1080/1060
Contracts: 1
Net P/L: +$337
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Disclaimer
All content is for informational purposes only and does not constitute financial advice.Any trades or strategies should be tested in a simulated environment before use.Trading involves risk, and all decisions are the sole responsibility of the reader.