This is the chart of the SPY (currently $272) July 17th $150P. At the March SPY low (218) it traded at over $10. Yesterday it closed at $0.55, today it's trading at $0.80, a gain of about 40%. This is not an official trade, but I know there are some PRO gamblers out there who like these kinds of under $1 options, especially ones that have 87 days to expiration.
