Description:
Earnings after close, taking advantage of high IV on same week options and covering with next week's (Calendar Spread).
Long Call Calendar Spread
Levels on Chart
R/R ~3:1
Positive R/R, stop loss levels built into position.
Intend to close before near term expiration.
*Stops based off underlying stock price, not mark to market loss
The Trade
BUY
11/05 310C
SELL
10/29 310C
Earnings after close, taking advantage of high IV on same week options and covering with next week's (Calendar Spread).
Long Call Calendar Spread
Levels on Chart
R/R ~3:1
Positive R/R, stop loss levels built into position.
Intend to close before near term expiration.
*Stops based off underlying stock price, not mark to market loss
The Trade
BUY
11/05 310C
SELL
10/29 310C
Trade active:
Filled @ .93
Trade closed manually:
Went ahead and closed this out @ .88, -6%.
The move was not conducive to holding a calendar spread, and I closed my directional position at the same time in MSFT.
The move was not conducive to holding a calendar spread, and I closed my directional position at the same time in MSFT.