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: $77.45;
Current Position:[private_monthly]
Long 1 TNA Jan14 75.81 call (originally 77, adjusted due to dividend)
[/private_monthly]
Reasoning: Got a nice bump up in the Russell 2k, allowing us to close out this trade for a slight loss to break even, allowing us to trade another day.
Trade Adjustment: [private_monthly]
STC 1 TNA Jan14 75.81 call
for a min net credit of $3.60 per contract (day order, limit order). The mid is currently at $3.85. I got filled at $3.70.
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Max Risk: $384 (adjusted from $635 originally)
Max Reward: unlimited (at current volatility) @ 80+ by Jan 17
Profit Range: $79.95 + by Jan 17
Suggested Upside stop: @ NA
Suggested Downside stop: $71.99
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