Stock / Symbol: iShares Silver Trust / SLV
Option Strategy: Diagonal Call Spread
Trade entry date / price: 03 Apr 2020 / $13.54
Price at this post: $18.03
Reasoning: With both our short call ITM + expiring today and our position within $20 of the max profit on the trade, we're going to close this position here and book the win.
Closing Trade Details:
STC 1 SLV 21Jan22 12 call
BTC 1 SLV 17Jul20 17 call
For a min net credit of $5.55 per contract (day order, limit order). The mid is currently at $5.70 and I was filled at $5.73. Try to sell at the mid price between the bid and ask.
Analysis:
Max Risk: $275 (reduced from $375)
Max Reward: $320 or 116% with SLV trading at $17 by Jul 17th
Profit Range: SLV at/over $13.50 by Jul 17th
Commission cost (round trip): $10.50
Suggested downside stop: $9.99
Realized Profit / Loss: $304 or 110% (pre commissions)
