Stock / Symbol: SPDR DOW Jones Industrial Avg ETF / DIA;
Option Strategy: double calendar;
Date / Price at trade entry: Mar 15 / $144.65;
Price at trade exit: $144.10;
Reasoning: Up 10% in 10 calendar days. Taking profits here to take a little risk off the table.
Closing Trade Details:
STC 5 DIA May13 147 calls
BTC -5 DIA MarWk5 147 calls
STC 5 DIA May13 142 puts
GTC -5 DIA MarWk5 142 puts
for a min net credit of $2.85 per contract (day order, limit order). I was filled at $2.88
Max Risk: $1299
Max Reward: $250 or 19% (at current volatility level) at $142 by Mar 29
Profit Range: 140.8 to $147.5 (at current volatility level) by Mar 29
Suggested Upside stop: @ $147
Suggested Downside stop: @ $141
Realized Profit / Loss: $140 or 10.7% (pre-commission)
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