Stock / Symbol: Qualcomm / QCOM;
Option Strategy: bull put spread;
Trade entry date / price: 19 Nov / $48.88;
Price at trade exit: $49.60
Reasoning: With this trade already capturing 70% of the possible profit, I'm going to close it out here for a quick win. 16% return in 1 day.
Closing Trade Details:
BTC -3 QCOM NovWk4 47 puts
STC 3 QCOM NovWk4 46 puts
for a max net debit of $0.05 per contract (GTC order, limit order). The current mid is $0.05. I was filled at $0.05.
Max Risk: $246 (entered at $0.18 credit/contract)
Max Reward: $54 or 20% at/over $47 by Nov 27th
Profit Range: $47 by Nov 27th
Downside Stop @ $47
Realized Profit/Loss: $39 or 16% (pre-commission)
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