Stock / Symbol: SPDR DOW Jones Industrial Avg ETF / DIA
Option Strategy: [private_monthly]diagonal put spread[/private_monthly]
Trade entry date / price: Aug 27 / $147.90
Price at trade exit: $147.77
Update: I thought this closing trade notice had gone out on Friday. Sorry about that. I closed this position on Friday for an 18% return in 3 days. On Friday, the short SepAugWk5 147 puts expired worthless, so you'll just need to close the long puts. If you don't get filled before this Friday's close, or if DIA trades over $148.50, sell at the market.
Closing Trade Details:
STC 3 DIA Oct13 147 puts
for a min net credit of $3.00 per contract (GTC order, limit order). The mid is currently at 2.69. I was filled at $3.20
Max Risk: $790
Max Reward: unlimited (at current volatility level) at/under $146.50 or by Aug 30
Profit Range: 0 - $148.25 by Aug 30
Suggested Upside stop: $148.50
Suggested Downside stop: @ $146.50
Realized Profit / Loss: $148 or 18.7% (pre-commission)
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