META Put Credit Spread - Jun 19 Premium Cushion

META has enough option premium for a defined-risk bullish spread without needing to sell too close to spot. The short strike is roughly 8% below current price. Estimated probability profile: around 72-76% POP if the live short strike is near the 20-25 delta area.

Current quote snapshot used for this alert: META ~$678.62. This is an educational trade idea, not personalized financial advice.

Underlying: META @ ~$678.62 Expiration: Jun 19, 2026 Structure: Sell 625P / Buy 615P Target entry: collect about $2.15 credit per share, or better.

Probability focus: collect premium below current price and manage early at 50% profit. The defined-risk structure keeps downside controlled if a single-name headline creates a gap.

Use limit orders only. Verify live option chain liquidity, bid/ask width, earnings date, and short-strike delta before entering. Skip the setup if the live credit is materially worse than the target or if the short strike is no longer around the intended probability zone.

Take profits at 50% of max profit, near $108 per 1-lot. Defend or exit if the position reaches about 2x credit received, near a $430 loss per 1-lot, or if price closes beyond the short strike with momentum. Avoid holding into expiration week unless actively managing assignment/gamma risk. Re-check earnings and macro-event calendar before entry.