Stock / Symbol: Chewy / CHWY
Strategy: Bull Put Spread
Trade entry date / price: 10 Dec 2021 / $51.85
Price at this post: $59.35
Update / Reasoning: Although there are still 21 days left on this trade, it's reached approximately 93% of it's maximum profitability. So, I'm closing it out now to book the win.
Trade Exit Order:
BTC 1 CHWY 21Jan22 45 put
STC 1 CHWY 21Jan22 42 put
For a max net debit of $0.07 per contract (GTC order, limit order). The mid is currently at a debit of $0.05 . I was just filled at $0.06
Analysis:
Max Risk: $245
Max Reward: $55 or 22.4% with CHWY at/over $45 on Jan 21st
Profit Range: CHWY at/over $44.55 at market close on Jan 21st
Estimated Commission (round trip): $2.60
Suggested Downside Stop at: $45
Realized Profit / Loss: $51 or 21% (pre commission)
