21/08 options strategy

$Mini Standard & Poor's 500 (.XSP.US)$ Trading Strategy - XSP (mini S&P 500)

When I bought Put on August 28, the exercise price was $558, and the premium was $3.06; the profit settled at the $550 price level.
Potential return: 8
Potential losses: (3.06)
Risk to reward ratio: 2.61 times