Stock / Symbol: SPDR S&P 500 ETF / SPY;
Option Strategy: [private_monthly]bear call spread[/private_monthly];
Price at trade post: $209.40;
Reasoning: Putting on a [private_monthly]bear call spread with Dec Week1 options[/private_monthly] on SPY. This trade's greeks are: -20.8 Delta, 3.7 Theta, and -8.2 Vega. We'll look to adjust / close the trade at our stop level.
Trade Details:[private_monthly]
STO -3 SPY DecWk1 213 calls
BTO 3 SPY DecWk1 214 calls
for a min net credit of $0.20 per contract (day order, limit order). The mid is currently at $0.22. Try for the mid to -.01 below the mid.
Cost/Proceeds: ($60)
Option Requirement: $0
Total Requirements: $240
Estimated Commission: $9
[/private_monthly]
Max Risk: $240
Max Reward: $60 or 25% [private_monthly]at/under $213[/private_monthly] by Dec 4th
Profit Range: [private_monthly]at/under $213.19[/private_monthly] by Dec 4th
Suggested Upside stop: @ $213
Suggested Downside stop: NA
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