This post is restricted to paying members. To follow are specific new trade details:
Stock / Symbol: Amazon / AMZN
Strategy: Bull Put Spread
Trade entry date / price: 11 Dec 2020 / $3083
Price at this post: $3172
Update / Reasoning: Entering in our exit order now to attempt to capture a $85 per contract profit. The position's current Greeks are: 0.5 Delta, 3.0 Theta, and -5.3 Vega.
Trade Exit Order:
BTC 1 AMZN 08Jan21 2800 put
STC 1 AMZN 08Jan21 2790 put
For a max net debit of $0.55 per contract (GTC order, limit order). The mid is currently at a debit of $0.70. Unless AMZN shoots up over $3215, the earliest we'll likely be filled is the last week of December.
Analysis:
Max Risk: $860
Max Reward: $140 or 16% with AMZN at/over $2800 on Jan 8th
Profit Range: AMZN at/over $2799 on Jan 8th
Estimated Commission (round trip): $2.60
Downside Stop at: $2850
Anticipated Profit / Loss upon fill: $85 or 9.9% (pre commission)
