This post is restricted to paying members. To follow are specific new trade details:
Stock / Symbol: Netflix / NFLX
Option Strategy: Double Calendar
Trade entry date: 14 Jan 2020
Price at this post: $336
Update: Updating our exit order so that we can get filled. Current Greeks are: 3.3 Delta, 233.4 Theta, and 47.9 Vega.
Trade Exit Details:
STC 1 NFLX 21Feb20 360 call
BTC 1 NFLX 24Jan20 360 call
STC 1 NFLX 21Feb20 320 put
BTC 1 NFLX 24Jan20 320 put
For a min net credit of $7.05 per contract (day order, limit order).
Analysis:
Max Risk: $690
Max Reward (adjusted for current volatility level): $950 or 138% with NFLX trading at either $320 or $360 by Jan 24th
Profit Range: NFLX trading between $302 and $388 by Jan 24th
Estimated Commission (round trip): $12
Expected Profit / Loss upon fill: $15 or 2% (pre trade commissions)
Upside stop @ $365
Downside stop @ $315
