Banks have sold off here and I believe if the market can start to move again, financials will recover. I structured a Super bull for this trade.
Trade: In chart.
Overall, $.46 credit on the trade.
Current risk: $454
Current R/R: 10.2% ROC (likely to increase if I can capture profits in the call spread.
Closed out the call spread here for a $89 winner. I'll keep the put spread on for a little while longer to capture more premium.
106/110 call spread: $134 open -> $224 close.
Trade closed manually:
I take that back, JPM moving nicely right now. I took off the put spread because I saw about $.25 more in upside over the course of 67 days - probably not worth the trouble in the end. Closed put spread for $1.00.
Overall, net closing price was $1.23 credit. This is a $169 profit on $454 buying power in 17 days (~37.22 ROC)