Stock / Symbol: Target / TGT
Option Strategy: Strangle
Trade entry date / price: 28 Oct 2019 / $109.75
Price at this post: $109.90
Reasoning: An uptick in volatility has already helped our position, currently up nearly 6%. Going to enter our closing order now, to hopefully capture a quick gain tomorrow.
Trade Details:
STC 1 TGT 22Nov19 115 call
STC 1 TGT 22Nov19 105 put
for a min net credit of $4.66 per contract (GTC order, limit order). The mid is currently at $4.48
Analysis:
Max Risk: $424
Max Reward: unlimited by Nov 22nd with TGT under $100 / over $119
Profit Range: TGT under $100 / over $119 by Nov 22nd
Profit / Loss if filled at current order: $42 or 9.9% (pre trade commissions)
Estimated Trade cost (round trip): $6
