Stock / Symbol: International Business Machines / IBM
Strategy: Bear Call Spread
Trade entry date / price: 26 Apr 2022 / $137.47
Price at this post: $134
Update / Reasoning: With IBM trading down today, near my price target of $134, this position is now at my target return of 10%. I'm gong to enter in the exit order now. The current Greeks are: -7.5 Delta, -0.9 Gamma, 0.9 Theta, and -4.6 Vega.
Trade Exit Order:
BTC 1 IBM 17Jun22 145 call
STC 1 IBM 17Jun22 150 call
For a max net debit of $0.45 per contract (GTC order, limit order). The mid is currently at a debit of $0.43 and I was just filled at $0.43
Analysis:
Max Risk: $410
Max Reward: $90 or 22% with IBM under $145 by Jun 17th
Profit Range: IBM under $145.85 by Jun 17th
Estimated Commission (round trip): $2.60
Upside Stop: $143
Realized Profit / Loss: $50 or 12% (pre commission)
