Description
⋅ Long via Mar16 42/48 call spread for $2.36.
POP: 41%
Max Loss: $236
Stop Loss: Price at $42
Max profit: $364
Target: $48 (will peel off here)
long 42 call: 61 delta
short 48 call: 23 delta
Trade active
⋅ Added to the trade with short put spreads.
Sold two Feb23 42/43 put spreads @ $.32.
DTE: 11
Max loss: $136
Max profit: $64
Target: Preferably expire worthless
Short $43 put: 42 delta
Long $42 put: 30 delta
Trade active
⋅ Stop loss moved to $43.
Trade active
⋅ I know I said I'd let the put spreads expire worthless - but they're trading for .05 each, so I took the risk off for quick profit.
Comment
⋅ Trade closed: target reached
⋅ We brushed up along my target today of $48, so my call spread was peeled off at $3.73.
$191 total profit on the position with the put spreads.