This post is restricted to paying members. To follow are specific new trade details:
Stock / Symbol: Target / TGT
Strategy: Bull Put Spread
Trade entry date / price: 20 May 2022 / $155.40
Price at post: $164.75
Update / Reasoning: With TGT bouncing a bit from where it was upon this trade's entry, this position is already near my profit target of 10%. So, I'm going to close out the trade here for a quick win. The positions current net Greeks are: 3.1 Delta, -0.2 Gamma, 0.7 Theta, and -2.4 Vega.
Trade Exit Details:
STO 1 TGT 15Jul22 140 put
BTO 1 TGT 15Jul22 135 put
for a max net debit of $0.40 per contract (GTC order, limit order). The mid is currently at $0.36. I was just filled at a debit of $0.37
Analysis:
Max Risk: $408
Max Reward: $92 or 22% with TGT at/over $140 on Jul 15th
Profit Range: TGT over $139.25 by Jul 15th
Commission (round trip): $2.60
Downside Stop: $140
Realized Profit / Loss: $55 or 13.5% (pre commission)
