Stock / Symbol: Amazon / AMZN
Option Strategy: bull put spread
Trade entry date / stock price: 14 Aug 2019 / $1764.05
Stock price at this post: $1811.60
Reasoning: We were filled for a credit of $1.05 per contract on the 14th at 12:00 pm PST. Now, we're going to try to capture around 80% of this trade's profit potential after just a few days in. The current Greeks are: 0.8 delta, 8.3 positive theta, and -2.4 vega.
Closing Trade Details:
BTC 1 AMZN 23Aug2019 1700 put
STC 1 AMZN 23Aug2019 1695 put
for a max net debit of $0.20 per contract (GTC order, limit order). The mid is currently at a credit of $0.37.
Max Risk: $395
Max Reward: $105 or 28% by Aug 23rd with AMZN at/above $1700
Profit Range: AMZN At/above $1700 by Aug 23rd
Estimated trade commissions: $6 (round trip)
Expected profit / loss upon fill: $85 or 21.5% (pre-commission)
