Stock / Symbol: Capital One / COF
Strategy: Short Butterfly Put Spread / Put Calendar / Put Diagonal
Trade post date: 23 Sep 2021 / $167
Price at this post: $145.75
Update / Reasoning: With COF down big today, the short 148 put is well ITM but the overall position has yielded a net winner. Closing the position and taking profits.
Exit Order
STC 1 COF 17Decf21 154.4 put
BTC 1 COF 26Nov21 148 put
For a min net credit of $7.75 per contract (day order, limit order). The mid is currently at a credit of $8.10. I have not yet been filled.
Analysis:
Max Risk: $550
Max Reward: $300 with COF at $148 on Nov 26th
Profit Range: COF below $158 on Nov 26th
Estimated Commission (round trip): $18
Anticpated Profit / Loss: $50 or 9% (pre commission)
