This post is restricted to paying members. To follow are specific new trade details:
Stock / Symbol: Apple / AAPL
Option Strategy: Butterfly Call Spread
Trade entry date / price: 22 May 2020 / $318.35
Price at this post: $317.56
Update / Action: Entering in our closing order now in order to capitalize on even a brief pullback to the $310 range. The current Greeks on this position are: -8.0 Delta, -1.8 Theta and 0.4 Vega.
Closing Trade Details:
STC 1 AAPL 29May20 305 call
BTC 2 AAPL 29May20 310 calls
STC 1 AAPL 29May20 315 call
For a min net credit of $1.20 per contract (GTC order, limit order). The mid is currently at $0.75
Analysis:
Max Risk: $65
Max Reward: $350 or 530% with AAPL trading at $310 on May 29th
Profit Range: AAPL between $306 and $314
Estimated Commission (round trip): $12
Estimated Profit / Loss upon fill: $55 or 84% (pre-commission)
Take profits at: $310
