Stock / Symbol: SPDR DOW Jones Industrial Avg ETF / DIA
Option Strategy: double calendar
Trade entry date / price: May 24 / $152.60
Price at this post: $152.30
Remaining Position:
long 2 DIA Aug13 151 puts
short -2 DIA MayWk5 151 puts
Reasoning: Closing out the remaining put calendar for a 4.6% total return on the trade in 5 days.
Closing Details:[private_monthly]
STC 2 DIA Aug13 151 puts
BTC -2 DIA MayWk5 151 puts
for a min net credit of $3.11 per contract (day order, limit order). The mid is currently at $3.18. Try for the mid less 0.03.
Max Risk: $1090 (includes call calendar)
Max Reward: $200 or 36% (at current volatility level) at $151 by May 31
Profit Range: 148.50 to 153.50 by May 31
Suggested Upside stop: NA
Suggested Downside stop: @ $151
Realized Profit / Loss: $50 or 4.6% (after commissions)
[/private_monthly]
Non-members, click here for access
