This post is restricted to paying members. To follow are specific new trade details:
Stock / Symbol: Johnson & Johnson / JNJ
Strategy: Put Calendar
Trade entry date / price: 21 Aug 2020 / $153.44
Price at this post: $152.80
Update / Reasoning: With JNJ looking a bit stronger here, we're going to take a modest profit and close the trade.
Trade Exit Details:
STC 1 JNJ 18Sep20 150 put
BTC 1 JNJ 28Aug20 150 put
For a min net credit of $1.55 per contract (GTC order, limit order). The mid is currently at a credit of $1.57 and I was filled at $1.55
Analysis:
Max Risk: $135
Max Reward: $150 or 111% with JNJ at $150 on Aug 28th
Profit Range: JNJ between $146.35 and $153.50 on Aug 28th
Estimated Commission (round trip): $6
Upside stop @ $157.01
Take profits @ $149.50
Realized Profit / Loss: $26 or 20% (pre commission)
