Stock / Symbol: SPDR S&P500 ETF / SPY
Option Strategy: [private_monthly]double calendar spread[/private_monthly]
Trade entry date / price at trade post: Apr 18 / $154.50
Price at this post: $159.59
Current Position:
Long 2 Jun13 150 puts
Long 2 Jun13 159 calls
Reasoning: While the addition of the 159 call calendar has significantly dampened the would be losses on this originally directional trade, it's time to accept that it was a bad trade and just take the small loss. Our short weekly 159 calls and 150 puts expired worthless on Friday.
Closing Trade Adjustment Details:
[private_monthly]
STC 2 SPY Jun13 159 calls
STC 2 SPY JUn13 150 puts
for a minimum net credit of $4.00 per contract. The current bid is at $4.09. (day order, limit order).
Max Risk: $858 (includes realized profits of $128)
Max Reward: unlimited at/under 145 / at over 164 by Jun 21
Realized Profit / Loss upon fill: ($60) or -7%
[/private_monthly]
