This post is restricted to paying members. To follow are specific active trade details:
Stock / Symbol: Micron Technology
Strategy: Vertical Call Spread
Trade entry date / price: 02 Jul 2021 / $79.62
Price at this post: $80.60
Update / Reasoning: Entering in the GTC exit order now, structured to capture a 12% return from the trade. The position's current Greeks are: 9.1 Delta, 1.5 Theta, and -1.8 Vega. At MU's current price, this order likely won't get filled until next week. However, if MU trades up to $82.50, the order should fill.
Trade Exit Order:
STC 1 MU 23Jul21 73 call
BTC 1 MU 23Jul21 76 call
For a min net credit of $2.80 per contract (GTC order, limit order). The mid is currently at $2.70. Note: if you entered at $2.55, you'll need to exit at $2.85 to realize a 12% return.
Analysis:
Max Risk: $255 / My Risk: $250
Max Reward: $45 or 17.6% with MU at/over $76 on Jul 23rd
Profit Range: MU at/over $75.60 at market close on Jul 23rd
Estimated Commission (round trip): $2.60
Downside Stop @ $76
Anticipated Profit / Loss upon fill: $30 or 12% (pre commission)
