Stock / Symbol: iShares Russell 2000 Index / IWM
Option Strategy: [private_monthly]double calendar[/private_monthly]
Trade entry date / price: Feb 20 / $114.80
Price at this post: $120.25
Current Position:
Long 3 IWM Apr14 110 puts
Short -3 IWM Mar14 110 puts
Long 3 IWM Apr14 117 calls
Short -3 IWM Mar14 117 calls
Reasoning: Upside stop hit. Time to call Uncle.
Closing Trade Details:
STC 3 IWM Apr14 110 puts
BTC -3 IWM Mar14 110 puts
STC 3 IWM Apr14 117 calls
BTC -3 IWM Mar14 117 calls
for a min net credit of $1.20 per contract (day order, limit order). The current mid is 1.24. Try for the mid - 0.03.
Max Risk: $490 (up form $335)
Max Reward: $390 or 79% (at current volatility level) at $110 by Mar 21
Profit Range: $107 to $119 by Mar 21
Suggested Downside stop: @ $110.50
Suggested Upside stop: @ $118.49 (adjusted up from 117.38)
Realized Profit / Loss upon fill: ($110)
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