Stock / Symbol: Proshares Ultra Short Real Estate ETF / SRS
Strategy: Diagonal Call Spread
Trade post date: 05 Aug 2022 / $15.00
Price at this post: $16.42
Update / reasoning: With SRS now trading in my target range, I'm going to enter in the exit order. I'm attempting to squeeze out a little more profit from the position, so SRS will likely need to go a bit higher for me to get filled. The current net position Greeks on this Diagonal Call Spread are: 27.5 Delta, -14.9 Gamma, 1.7 Theta, and 2.2 Vega.
Trade Exit Order:
STC 1 SRS 20Jan23 15 call
BTC 1 SRS 16Sep22 17 call
For a min net credit of $2.35 per contract (GTC order, limit order). The mid is currently at a credit of $2.22.
Analysis:
My Max Risk: $175
Max Reward: $150 or 85% with SRS at $17 on Sep 16th
Profit Range: SRS over $14.50 by Sep 16th
Estimated Commission (round trip): $3.25
Suggested upside stop: $16.50 to $17 (take profits)
Anticipated Profit / Loss upon fill: $90 or 51% (pre commission)
