This post is restricted to paying members. To follow are specific active trade details:
Stock / Symbol: Gold Miners ETF / GDX
Strategy: Diagonal Call Spread+ Long Put
Trade entry date / price: 13 Aug 2021 / $32.80
Price at this post: $33.30
Update / Reasoning: With GDX trading right near the sweet spot for the position's max profit, I'm entering in the exit order here. I'm looking to get filled at a level that will yield an overall return of 11%. The current net position Greeks on this Diagonal Call Spread are: 15.3 Delta, -44.3 Gamma, 7.0 Theta, and 4.6 Vega.
Trade Exit Order:
STC 1 GDX 18Mar22 29 call
BTC 1 GDX 29Oct21 33 call
For a min net credit of $4.45 per contract (GTC order, limit order). The mid is currently at a credit of $4.40 and I was just now filled at $4.45.
Analysis:
Max Risk: $490
Max Reward: $85 or 17% with GDX at $33 on Oct 29th
Profit Range: GDX over $31.80 by Oct 29th
Suggested upside stop: $36.50 (to take profits)
Commission (round trip): $7.80
Realized Profit / Loss: $56 or 11.4% (pre commission)
