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
Trade active
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Filled @ .93
Trade closed manually
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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.