PUT spreads are very hard to trade in Bullish markets. Plus, these are short term (2 week) trades with low success rates. You have to be very diligent in making sure when to take these trades on. I usually wait for confirmation from many of my indicators before taking the trade and use a lot of judgement, but even then the short term trend can go against me and destroy the trade. In ZM’s case, all mean reversion indicators as shown below are lining up and ZM did take a beating and looks like a winner at this time. However, if we get green markets next week, this could pop right back up, so we will need to keep a close eye on it.

Although, it is virtually impossible to catch the top and bottom of a trading range, but in this case we did. And the spread closed for 94% ROI in a matter of 8 days. Who doesn't love quick winners!