Looks pretty good, but for this site you can use MathJax rather than Unicode special characters. For this specific notation, use:
$$\exists x \in X : P(x)$$
$$\forall y (P(y) \Rightarrow O(y))$$
$$\therefore \exists x \in X : O(x)$$
which produces:
$$\exists x \in X : P(x)$$
$$\forall y (P(y) \Rightarrow O(y))$$
$$\therefore \exists x \in X : O(x)$$
As for reading this out loud, I would verbalize it as follows:
$$\exists x \in X : P(x)$$
There exists an element $x$ in $X$ for which predicate $P$ of $x$ is true.
$$\forall y (P(y) \Rightarrow O(y))$$
For all $y$, $P$ of $y$ implies $O$ of $y$. (Or if I want to be explicit, "For all $y$, predicate $P$ of $y$ implies predicate $O$ of $y$.")
$$\therefore \exists x \in X : O(x)$$
Therefore, there exists an element $x$ in $X$ for which predicate $O$ of $x$ holds true.