Stock / Symbol: S&P 500 / SPX
Option Strategy: Bear Call spread
Trade entry date / price: 25 Oct 2019 / $3008
Price at this adjustment: $3222.73
Reasoning: With today's gap up, SPX is showing no signs of slowing down so we're going to close the position out.
Closing Trade Details:
BTC 1 SPX 20Dec19 3090 call
STC 1 SPX 20Dec19 3095 call
for a max net debit of $5.05 per contract (day order, limit order). The mid is currently at $5.05 and I was filled at $5.05. This position must be closed out today.
Analysis:
Max Risk: $945
Max Reward: ($440) or -47% by Dec 20th with SPX at/under $3090
Profit Range: NA
Realized Profit / Loss: ($950)
Estimated Trade cost (round trip): $30
