Stock / Symbol: SPDR Dow Jones Industrial Average / DIA
Option Strategy: double diagonal;
Trade entry date / price: Jan 22nd / $174.67;
Price at this post: $172.25;
Reasoning: We're near our profit target of 15%, let's book the win here. Current Greeks are: -20 delta , 3.3 theta, and 46.9 vega.
Closing Trade Details:
STC 2 DIA Mar15 184 calls
STC 2 DIA Mar15 164 puts
BTC -2 DIA FebWk1 183 calls
BTC -2 DIA FebWk1 165 puts
for a min net credit of $2.00 per contract (GTC order, limit order). The mid is currently 2.02. I was filled at 2.00.
Requirements:
Max Risk: $530 (entered at 1.65 per contract)
Max Reward: $400 or 75% (at current volatility levels) at $165 by Feb 6th
Profit Range: $160 to $173 & $178.50 to $185 by Feb 6th
Suggested Upside stop: @ $183
Suggested Downside stop: @ $165
Realized Profit / Loss: $70 or 13% (pre-commission)
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