Stock / Symbol: Twitter / TWTR;
Option Strategy: calendar call spread
Trade entry date / price: 1 Apr / $51.00
Price at trade exit: $25.15
Current Position:
Long 1 Jan17 40 call
at an effective cost of $9.13 per contract
Reasoning: Doing what I should have done long time ago. Taking the loss and moving on. The current Greeks are: 25.8 delta, -0.5 theta, and 8.5 vega.
Closing Trade Details:
STC 1 TWTR Jan17 40 Call
for a min net credit of $1.65 per contract (GTC order, limit order). The mid is currently at $1.65.
Max Risk: $913
Max Reward: unlimited
Profit Range: $49.13+ by January 2017 expiration
Realized Profit / Loss upon fill: ($748) or -82%
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