Stock / Symbol: Google / GOOG
Option Strategy: diagonal call spread
Trade entry date / price: Jan 30 / $1140
Price at this post: $1170
Reasoning: With GOOG up 3.5% this morning (post earnings) our trade is up just over 23% at the moment. For those of you who'd like to book a 20 to 25% gain in just a day, I'm posting the closing trade instructions below. For me personally, I'm going to roll the short call to a FebWk2 expiration. I'll post the rollover details at the bottom of this post.
Closing Trade Details:
STC 1 GOOG Jan15 10 Mini 1150 call
BTC -1 GOOG JanWk5 10 Mini 1190 call
for a min net credit of $115 per contract (day order, limit order). The mid is currently at $117.50.
Max Risk: $955
Max Reward: $330 or 34% (at current volatility level) at 1190 by Jan 31
Profit Range: $1120 to $1300 (at current volatility level) by Jan 31
Suggested Downside stop: @ 1099
Suggested Upside stop: @ 1250
Profit / Loss upon fill: $200 or 21%
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Trade Adjustment Details:
[private_monthly]
BTC -1 GOOG JanWk5 10 Mini 1190 call
STO -1 GOOG FebWk2 10 Mini 1190 call
for a min net credit of $10 per contract (day order, limit order). The mid is currently at $10.80.
Max Risk: $865 (originally $955)
Max Reward: $250 or 28% (at current volatility level) at 1190 by Feb 14
Profit Range: $1140 to $1280 (at current volatility level) by Feb 14
Suggested Downside stop: @ 1145
Suggested Upside stop: @ 1250
[/private_monthly]
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