This post is restricted to paying members. To follow are specific closing trade details:
Stock / Symbol: Nike / NKE;
Option Strategy: bear call spread;
Price at trade post: $89.20;
Reasoning: Closing our newly entered bear call spread on NKE for a quick gain of 19.7%.
Closing Trade Details:
BTC 1 NKE MayWk2 91 call
STC 1 NKE MayWk2 93 call
For a max net debit of $0.18 per contract. The mid is currently at a credit of $0.16 (GTC order, limit order). Filled at $0.18.
Max Risk: $152
Max Reward: $48 or 31% at/under $91
by May 10th
Profit Range: With NKE trading at/under $91.49 by May 10th
Suggested Upside Stop @ $91.75
Suggested Downside Stop @ $86
Realized Profit / Loss upon fill: $30 or 19.7% (pre-commission)
