To follow are specific trade exit details:
Stock / Symbol: Under Armour / UAA;
Option Strategy: put calendar spread;
Trade entry date / price: May 21 / $23.65
Trade exit date / price: May 29 / $22.82
Price at this post: $22.72
Reasoning: With UAA trading down, near our target of $22.50, we're submitting an exit order to capture a relatively quick 40% return.
Trade Exit Details:
STC 2 UAA 19Jul2019 22.5 puts
BTC 2 UAA 31May2019 22.5 puts
for a min net credit of $0.88 per contract
(GTC order, limit order). Using a Good Til Cancelled order as we're exiting the trade. The current mid is $0.89 and I was filled at a net credit of $0.88.
Adjusted Max Risk: $126
Max Reward: $100 or 79% by May 31st at $22.50
Profit Range: Between $21.55 and $23.65 by May 31st
Suggested Downside Stop @ $22.25
Suggested Upside Stop @ $24.00
Realized Profit / Loss: $50 or 39.7% (not including commissions)
