|AMZN Weekly with seasonal projection.|
The trade I took is called a bull-put vertical spread. I sold the August 220 put and bought the August 215 put simultaneously for a $1.75 credit. This has a maximum risk of $3.25 per spread and I put this spread on 3 times for a total risk of about $1,000 and a total potential gain of about $500 - a 50% return on risk.
The probability of success, if held to expiration, is about 60%:
I keep a limit order on to buy these back for 1/5 of the price I sold them, so I don't usually hold these into expiration.