Stock / Symbol: Direxion Small Cap Bull 3x / TNA;
Option Strategy: [private_monthly]calendar put spread[/private_monthly];
Trade entry date / price: Jul 18 / $59
Price at this post: $59
Reasoning: TNA is right where we started on this trade but we're up about 15%. Gotta love it. Taking the trade off here just incase the Russell 2000 moves higher. Current greeks are: -40 delta, a 9.7 theta, and 15.5 vega.
Closing Trade Details:[private_monthly]
STC 2 TNA Oct13 55 puts
BTC -2 TNA Aug13 55 puts
for a min net credit of $3.45 per contract (GTC order, limit order). The mid is currently at $3.48.
Max Risk: $600
Max Reward: $410 or 67% (at current volatility) @ $55 by Aug 16
Profit Range: $50.50 to $61 by Aug 16
Suggested Upside stop: @ 62
Suggested Downside stop: @ 54.50
Profit / Loss upon fill: $96 or 16% (pre-commission)
[/private_monthly]
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