Stock / Symbol: Salesforce.com / CRM
Option Strategy: Diagonal Call Spread + Protective Put Spread
Trade entry date / price: 31 May 2022 / $163.45
Price at this post: $161
Update: With CRM's significant drop today, the protective Bear Put Spread from the Diagonal Call trade is actually worth a little bit today. So, I'm going to sell it here to add to my gains from this trade.
Trade Exit Order:
STC 1 CRM 17Jun22 150 put
BTC 1 CRM 17Jun22 145 put
At the current bid or better. The current bid is at a credit of 0.11 and I was just filled at $0.12
Analysis:
Posted Max Risk: $785 / My Max Risk: $755
Max Reward: Approx $850 or 108% with CRM trading at $190 by Jun 17th
Profit Range: CRM between $170 and and $230 by Jun 17th
Estimated Commission (round trip): $5.20
Suggested upside stop: $200
Adjusted downside stop: $180
Realized Profit / Loss: $407 or 53.9% (pre commission)
