This post is restricted to paying members. To follow is specific new trade details:
Stock / Symbol: First Solar / FSLR
Option Strategy: diagonal call spread
Trade entry date / price: 08 Oct 2019 / $57.65
Price at this post: $54.70
Reasoning: Concerned that FSLR has failed to find support at its 200 day moving average, so we're going to exit the trade for now. Once support has been more clearly defined, we'll consider re-entering a position on FSLR.
Position Details:
Long 1 FSLR 20Dec2019 60 call
Short 1 FSLR 18Oct2019 61 call
for a net debit of $3.20 per contract.
Closing Order:
STC 1 FSLR 20Dec2019 60 call
BTC 1 FSLR 18Oct2019 61 call
for a minimum net credit of $1.75 per contract (GTC order, limit order)
Max Risk: $325
Max Reward: $175 or 53.4% by Oct 18th with FSLR @ $61
Profit Range: FSLR between $57.40 and $66.70 by Oct 18th
Expected Profit / Loss upon fill ($155) or - 47.7% (pre commission)
Round trip trade cost: $6
