Ok here's a trade I have on now: See if you can understand the position as it now stands, and I'll post trades as they evolve. On Monday I bought 10 IWM June 19 2020 strike 120 puts for $4.62. How much did I spend? How much can I gain? How much can I lose? What's the underlying index? How many shares of the underlying do I notionally control? Are the puts in the money or out of the money? Is the position currently profitable? Let me know, and let's hope for a gap down Monday morning to make this fun.