Stock / Symbol: Direxion Small Cap Bull 3x / TNA;
Option Strategy: [private_monthly]double calendar spread[/private_monthly];
Trade entry date / price: Nov 29 / $75.72
Price at trade adjustment: $73
Current Position:[private_monthly]
Long 1 TNA Jan14 77 call
Short -1 TNA DecWk1 77 call
[/private_monthly]
Reasoning: Rolling the short call to next week's expiration.
Trade Adjustment: [private_monthly]
BTC -1 TNA DecWk1 77 call
STO -1 TNA DecWk2 77 call
for a min net credit of $0.26 per contract (day order, limit order). The mid is currently at $0.28.
[/private_monthly]
Max Risk: $310 (adjusted down from $635)
Max Reward: $100 or 32% (at current volatility) @ 77 by Dec 13[/private_monthly]
Profit Range: $75 to $79 by Dec 13
Suggested Upside stop: @ 77.51
Suggested Downside stop: NA
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