Stock / Symbol: Gamestop / GME
Strategy: Calendar Put Spread / Diagonal Put Spread
Trade entry date / price: 14 May 2021 / $158.75
Price at this post: $230
Update / Reasoning: With less than 30 days to the expiration of the position's long put, and no indication of an impending pullback in GME, I'm closing this position here to prevent further loss.
Trade Exit Order:
STC 1 GME 16Jul21 80 put
BTC 1 GME 18Jun21 85 put
For a min net credit of $0.75 per contract (GTC order, limit order). The mid is currently at a credit of $0.80. I was just filled at $0.78.
Analysis:
Max Risk: $685
Max Reward: $1000 or 145% with GME at $85 on Jun 18th
Profit Range: GME between $66 and $145 at market close on Jun 18th
Commission (round trip): $3.90
Realized Profit / Loss: ($103) or -15% (pre commission)
