Stock / Symbol: Dish Network / DISH
Option Strategy: Double Diagonal Spread
Trade entry date / price: 06 Nov 2019 / $33.30
Price at this post: $34.09
Reasoning: Didn't get enough of a move on DISH's earnings announcement. Going to try to close out for about break even after trading costs. Current Greeks are: 18.7 delta, 1.8 theta and 3.4 vega.
Closing Trade Details:
STC 1 DISH 15Nov19 34 call
BTC 1 DISH 08Nov19 36 call
STC 1 DISH 15Nov19 33 put
BTC 1 DISH 08Nov19 31 put
for a min net credit of $1.72 per contract (GTC order, limit order). The mid is currently at $1.40. It may take until tomorrow, Friday, to get filled.
Analysis:
Max Risk: $160
Max Reward: $65 or 40% by Nov 8th with DISH at either $31 or $36
Profit Range: DISH at/ under $32 or at/over $35 by Nov 8th
Profit / Loss upon fill: $12 or 7.5% (pre trade commissions)
