Stock / Symbol: SPDR S&P500 ETF / SPY
Option Strategy: calendar put spread
Trade entry date / price: Aug 26 / $200.20
Price at this post: $200.92
Reasoning: Just didn't get the market pullback I was anticipating. Closing out here for a small gain on the trade.
Current Greeks are: -33 delta, 9 theta, and 31 vega.
Closing Trade Details:
STC 2 SPY Oct14 195 puts
BTC -2 SPY Sep14 195 puts
for a min net credit of $0.95 per contract. The mid is currently at $0.99 (day order, limit order). Try for the mid less 0.01.
Max Risk: $184 (adjusted down from $310)
Max Reward: $300 or 163% @ 195 (at current volatility level) by Sep 19
Profit Range: between $191 and $199 by Sep 19
Suggested Downside Stop @ 193.50
Suggested Upside Stop @ $201.51
Realized Profit / Loss: $12 or 6.5%
