This post is restricted to paying members. To follow are specific new trade details:
Stock / Symbol: iShares Russell 2000 ETF / IWM
Option Strategy: Bear Call Spread
Trade entry date: 10 Aug 2022 / $194.90
Price at this post: $191.60
Reasoning: My exit plan for this trade was to exit within 2 to 3 weeks. At the two week mark today and with IWM trading up a bit, I'm going to close this trade here for about a 10% return. The current Greeks on this Bear Call spread are: -5.9 Delta, -0.2 Gama, 0.7 Theta and -2.6 Vega.
Trade Exit Order:
BTC 1 IWM 21Oct22 202 call
STC 1 IWM 21Oct22 205 call
For a max net debit of $0.91 per contract (GTC order, limit order). The mid is currently at a debit of $0.90 and I was just filled at $0.91
Analysis:
My Max Risk: $187
Max Reward: $113 or 60% with IWM trading under $202 by Oct 21st
Profit Range: IWM trading under $202 by Oct 21st
Commission (round trip): $2.60
Realized Profit / Loss: $22 or 11.7% (pre commission)
