Stock / Symbol: Apple Inc / AAPL
Option Strategy: [private_monthly]diagonal call spread + calendar put spread[/private_monthly]
Trade entry date / price: 27 Apr / $131.55
Price at this adjustment: $126.73
Current Position:[private_monthly]
Long 1 AAPL Jan17 130 call
Short -1 AAPL Jul 135 call
Long 1 AAPL Jul 120 put
for an effective cost of $19.79 per contract (includes losses from initial position)
[/private_monthly]
Adjustment: Rolling up the short call on AAPL to one further OTM and expiring in August. With AAPL over $120 by this Friday's expiration, our long put will expire worthless. With this adjustment, the greeks will be: 42.1 Delta; 0.59 Theta; and 54.5 Vega.
If you're not currently in this trade, you can enter by going long the Jan17 call we're holding and short the Aug call we're selling.
Trade Adjustment Details:[private_monthly]
BTC -1 AAPL Jul 135 call
STO -1 AAPL Aug 140 call
for a min net credit of $0.35 per contract (GTC order, limit order). The mid is currently at $0.35
[/private_monthly]
Max Risk: $1979
Max Reward: $170 or 8.6% by Aug 21st
Profit Range:$137 to $145 by Aug 21st
Suggested Upside stop: @ $142
Suggested Downside stop: @ $114
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