Stock / Symbol: S&P500 Index / SPX
Option Strategy: bear call spread
Original trade entry date / price: Jan 23 / $1822
Price at this post: $1857
Current Position:[private_monthly]
Short -2 SPX Mar14 1915 calls
Long 2 SPX Mar14 1925 calls
at a net credit of $0.55 per contract
[/private_monthly]
Adjustment: With our upside stop triggering today, I'm going to roll our spread up a few strikes and out an additional week. After this adjustment, the greeks will be roughly: -4 delta, 5.4 theta, and -35 vega. Upon fill, adjust the upside stop higher (see below)
Trade Adjustment Details:
[private_monthly]
BTC -2 SPX Mar14 1915 calls
STC 2 SPX Mar14 1925 calls
STO -2 SPX MarWk4 1930 calls
BTO 2 SPX MarWk4 1940 calls
for a max net debit of $0.25 per contract (day order, limit order). The mid is currently at $0.20. If not filled today, try again on Monday.
[/private_monthly]
Max Risk: $1,910
Max Reward: $75 or 3.9% @ [private_monthly] or under 1930[/private_monthly] by Mar 28
Profit Range: at/under [private_monthly]$1915[/private_monthly] by Mar 28
Suggested Upside Stop: 1881
Suggested Downside Stop: NA
Non-members, click here for access
