Stock / Symbol: Target / TGT
Option Strategy: Strangle
Trade entry date / price: 28 Oct 2019 / $109.75
Price at this post: $108.12
Update: TGT is pulling back so we're going to enter an exit order to close out the trade for a small gain before the negative theta becomes to much to over come as we approach expiration on Nov 22nd.
Exit Order Details:
STC 1 TGT 22Nov19 105 put
for a min credit of $2.56 (GTC order, limit order). The mid is currently at $2.56. I was just filled at $2.56 @ 10:15am PST.
Analysis:
Adjusted Max Risk: $244
Max Reward: unlimited by Nov 22nd with TGT under $100
Profit Range: TGT under at $100 by Nov 22nd
Realized Profit / Loss: $12 or 4.9% (pre commission)
Trade cost (round trip): $12
