Stock / Symbol: Regeneron Pharmaceuticals / REGN
Strategy: Bull Put Spread
Trade entry date / price: 16 Feb 2021 / $485
Price at this post: $474.87
Update: Despite REGN pulling back from its price at our entry point, this position is up nicely and close to my profit target. So, I'm entering in the GTC exit order here, with the hope that it'll get filled this week. The Greeks on this position have gone from: 1.7 to 1.4 Delta, 1.8 to 1.8 Theta, and -2.9 to -1.7 Vega.
Trade Exit Order:
BTC 1 REGN 19Mar21 430 put
STC 1 REGN 19Mar21 425 put
For a max net debit of $0.15 per contract (GTC order, limit order). The mid is currently at a debit of $0.15. I have not yet been filled.
Analysis:
Max Risk: $440
Max Reward: $60 or 13.6% with REGN at/over $430 on Mar 19th
Profit Range: REGN at/over $429.45 at market close on Mar 19th
Estimated Commission (round trip): $2.60
Downside Stop at: $430
Anticipated Profit / Loss upon fill: $50 or 11.5% (pre commissions)
