Stock / Symbol: SPDR S&P 500 ETF / SPY;
Option Strategy: [private_monthly]double diagonal[/private_monthly];
Trade entry date / price: 29 Feb / $195.45
Price at trade adjustment: $204.25;
Current Position:[private_monthly]
Long 1 SPY MarWk4 203 call
Long 1 SPY MarWk4 184 put
Short -1 SPY Mar16 202 call
Short -1 SPY Mar16 186 put
[/private_monthly]
Reasoning: With the call leg of the trade ITM, going to close it out here. We'll add to the position early next week.
Trade Adjustment Details:
[private_monthly]
STC 1 SPY MarWk4 203 call
BTC -1 SPY Mar16 202 call
at the market
Requirements:
Max Risk: $199
Max Reward: $130 or 65% by Mar 18th [private_monthly]at $186 (at current volatility)
Profit Range: Between $183.50 and $203.50 by Mar 18th (at current volatility)
Suggested Upside Stop NA
Suggested Downside Stop @ $183.50
[/private_monthly]
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