Stock / Symbol: iShares Russell 2000 Index / IWM
Option Strategy: [private_monthly]double calendar[/private_monthly]
Trade entry date / price: May 16 / $98.30
Price at this post: $100.20
Reasoning: IWM has hit 100 so we're taking profits on the call spread portion of the trade. We'll look to add a new bear call spread tomorrow or Friday.
Trade Adjustment Details:[private_monthly]
BTC -5 IWM MayWk4 100 calls
STC 5 IWM Jun13 100 calls
for a min net credit of $1.15 per contract (day order, limit order). Try for the mid less .01. The current mid is 1.20.
[/private_monthly]
Max Risk: $360 (adjusted down from $963)
Max Reward: $400 or 111% (at current volatility level)at[/private_monthly] @ $96 [/private_monthly]by May 24
Profit Range: $92.50 to $99.50 by May 24
Suggested Downside stop: @ $96
Suggested Upside stop: NA
[/private_monthly]
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