Stock / Symbol: Skillz / SKLZ
Strategy: Calendar Call Spread
Trade entry date / price: 21 Apr 2021 / $16.70
Price at this post: $18.05
Update / Reasoning: With SKLZ dropping quickly from it's opening price of $19.44, I didn't get filled at my limit of $4.25. I'm lowering my ask down to $3.95 in order to increase the chance of a fill today.
Trade Exit Order Adjustment:
STC 1 SKLZ 17Dec21 20 call
BTC 1 SKLZ 07May21 20 call
For a min net credit of $3.95 per contract (day order, limit order). The mid is currently at a credit of $3.80. I have not yet been filled
Analysis:
Max Risk: $375
Max Reward: $285 or 76% with SKLZ at $20 on May 7th
Profit Range: SKLZ between $15.25 and $32 at market close on May 7th
Estimated Commission (round trip): $2.60
Downside stop @ $11.00
Take profits @ $19 to $21
Anticipated Profit / Loss upon fill: $45 or 12% (pre commission)
