Stock / Symbol: Skillz / SKLZ
Strategy: Calendar Call Spread
Trade entry date / price: 21 Apr 2021 / $16.70
Price at this post: $19.00
Update / Reasoning: With SKLZ already trading near my price target of $20, I'm going to attempt to close the position today. I don't normally have such a quick turn around on a trade, but I only found this opportunity in the last few minutes of yesterday's trading session. For those who missed the trade, be sure to cancel your GTC entry order.
Trade Exit Order:
STC 1 SKLZ 17Dec21 20 call
BTC 1 SKLZ 07May21 20 call
For a min net credit of $4.25 per contract (GTC order, limit order). The mid is currently at a credit of $4.05. 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: $75 or 20% (pre commission)
