PACW bull put spread

#speculation #bullputspreads My first non-SPX trade in many months…

Sold to Open $PACW April 21st 15/10 put spreads for 3.70, with PACW at 9.05.

This is risking 1.30 to make 3.70. Stock has over a month to recover. I may choose to close if it drops down below 2.00 pretty quickly, or below 1.00 weeks before expiration.

I have no idea if this bank crisis will get worse, but the risk/reward on the trade is hard to resist when this stock was at 27.00 only 10 days ago.