Stock / Symbol: SPDR S&P 500 ETF / SPY;
Option Strategy: [private_monthly]bear call spread[/private_monthly];
Trade Entry date / price: 20 Nov / $209.40
Price at trade exit: $209.60;
Reasoning: Up 13% on the trade in just over a week. Closing out here to take off the risk on an upside move in the market.
Trade Details:
BTC -3 SPY DecWk1 213 calls
STC 3 SPY DecWk1 214 calls
for a max net debit of $0.09 per contract (day order, limit order). The mid is currently at $0.07. I was filled at $0.09
Max Risk: $240
Max Reward: $60 or 25% at/under $213 by Dec 4th
Profit Range: at/under $213.19 by Dec 4th
Suggested Upside stop: @ $213
Suggested Downside stop: NA
Realized Profit / Loss: $33 or 13.75% (pre-commission)
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