Stock / Symbol: Direxion Small Cap Bear 3x / TZA
Option Strategy: [private_monthly] calendar call spread[/private_monthly];
Trade entry date / price: Jan 29 / $18.52
Price at trade post: $18.90
Reasoning: Closing out the trade here for a quick 30% gain. Current greeks are: 79 Delta, 1.76 Theta, and 4.9 Vega.
Closing Trade Details:[private_monthly]
STC 2 TZA Mar14 20 calls
BTC -2 TZA FebWk1 20 calls
for a min net credit of $1.10 per contract (day order, limit order). The mid is currently at $1.15.
Max Risk: $180
Max Reward: $165 or 91% (at current volatility) at $20 by Feb 21
Profit Range: $18.25 to $22.25 by Feb 21
Suggested Upside stop: @ 20.50
Suggested Downside stop: @ 17.30
Profit / Loss upon fill: $60 or 33%
[/private_monthly]
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