Stock / Symbol: Bank of America / BAC
Option Strategy: diagonal call spread
Price at trade post: $15.74
Price at this post: $14.90
Reasoning: Downsie stop level hit. Closing out here.
Closing Trade Details:
STC 2 BAC Jan15 12 calls
BTC -2 BAC Aug14 16 calls
for a min net credit of $3.00 per contract (day order, limit order). The mid is currently at 3.04.
Max Risk: $724 (in at debit of $3.62 per contract)
Max Reward: $75 or 8.78% (at current volatility level) [private_monthly] at/over $16 by Aug 15
Profit Range: $15.65+ by Aug 15
Suggested Downside stop: @ $15.15
Suggested Upside stop: NA
Realized Profit / Loss: ($120)
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