Stock / Symbol: Lennar / LEN
Option Strategy: Vertical Put Spread
Trade entry date / price: 17 Jun 2020 / $64.40
Price at this post: $58.50
Update: Our closing order filled this morning, giving us an 80% return in 12 calendar days.
Position Details:
Long 1 LEN 17Jul20 60 put
Short 1 LEN 17Jul20 55 put
Entered at a debit of $1.25 per contract on Jun 17th and exited for a credit of $2.25 per contract on Jun 29th.
Analysis:
Max Risk: $125
Max Reward: $375 or 300% with LEN at/under $55 by Jul 17th
Profit Range: LEN under $58.70 on Jul 17th
Commission (round trip): $6
Original Price Target: $55 - $56
Realized Profit / Loss: $100 or 80% (pre commission)
