Stock / Symbol: Direxion Gold Miners Bull 3x / NUGT
Option Strategy: [private_monthly]calendar call spread[/private_monthly]
Trade entry date / price: May 14th / $13.68
Price at trade post: $3.33
Current Position:[private_monthly]
Long 1 NUGT Sep15 15 call
for an effective cost of $2.20 per contract
[/private_monthly]
Adjustment: Adding a [private_monthly]3 strike call to the position. The 15 strike call with surely expire worthless on Sep 18th.[/private_monthly] With this adjustment, the greeks will be: 74.4 delta, -0.6 theta, and 0.8 vega. If we do get a move up on NUGT, I'll look to sell a call against the position.
Trade Adjustment Details:[private_monthly]
BTO 1 NUGT Dec15 3 call
for a max debit of 1.40 per contract. The mid is currently at $1.25 (GTC order, limit order). I was filled at $1.25
[/private_monthly]
Max Risk: $345
Max Reward: unlimited by Dec 18th
Profit Range: above [private_monthly]$6.50[/private_monthly] by Dec 18th
Suggested Upside Stop: NA
Suggested Downside Stop: NA
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