The trader is shorting 100 GOOGL contracts, specifically 185 puts expiring today. The risk-reward ratio is 2 to 1. The trader closes positions at 40%, 55%, and 77% profit using market orders due to the bid-ask spread on liquid stocks like Google. The trader would like to see ES fall to a specific level. The trader closed 50 contracts at a 40% profit, then another 25 contracts at a 55% profit, and then another 15 contracts at a 77% profit. Finally, he closes the rest of the position at a 72% profit.