Stock / Symbol: Small Cap 3x Bull / TNA
Option Strategy: Calendar Call spread
Trade entry date / stock price: 06 Aug 2019 / $53.95
Trade exit date / stock price: 24 Sep 2019 / $57.94
Reasoning: TNA has moved down near our target price of $57 since our last adjustment, enabling us to exit this trade for a decent return.
Closing Order:
STC 1 TNA 17Jan20 57 call
BTC 1 TNA 27Sep19 57 call
for a min net credit of $5.50 per contract (GTC order, limit order). The mid is currently at $5.52. I was filled at a credit of $5.60.
Analysis:
Adjusted Max Risk: $488
Adjusted Max Reward: $125 or 25.6% by Sep 27th with TNA at $57
Profit Range: TNA between $54.00 and $61 by Sep 27th
Realized Profit / Loss: $72 or 14.75% (pre trade commissions)
Trade costs (round trip): $18
