This post is restricted to paying members. To follow are specific active trade details:
Stock / Symbol: Dow Jones Industrial Average ETF / DIA
Strategy: Bear Call Spread
Trade entry date / price: 01 Feb 2021 / $302.28
Price at this post: $316.40
Update: Entering in the exit order for this position. As usual, I'm using a GTC order to exit the position as this may not get filled till Thursday or Friday, and only if DIA continues to trade under $320. The current Greeks are: -22.0 Delta, 24.9 Theta, and -8.0 Vega.
Trade Exit Order:
BTC 1 DIA 05Mar21 320 call
STC 1 DIA 05Mar21 327.5 call
For a max net debit of $0.30 per contract (GTC order, limit order). The mid is currently at a debit of $1.15.
Analysis:
Adjustment Max Risk: $670 (up from $417)
Max Reward: $60 or 9% with DIA under $320 at market close on Mar 5th
Profit Range: DIA at/under $320.50 at market close on Mar 5th
Estimated Commission (round trip): $5.20
Upside Stop at: $320
Anticipated Profit / Loss upon fill: $33 or 5% (pre commission)
