Stock / Symbol: Adobe / ADBE
Strategy: Bull Put Spread
Trade entry date / price: 20 Sep 2022 / $289.69
Price at this post: $301.70
Reasoning: After an initial dip following the onset of the trade, ADBE has traded up about 4%. This position is currently profitable and since it's about a week beyond my 3 week time frame for the trade, I'm closing out this trade for a win here. For reference, the current net position Greeks are: 1.9 Delta, -0.06 Gamma, 1.5 Theta, and -2.1 Vega.
Trade Exit Order:
BTC 1 ADBE 18Nov22 255 put
STC 1 ADBE 18Nov22 250 put
For a max net debit of $0.50 per contract (GTC order, limit order). The mid is currently at a debit of $0.48. I was just filled at a debit of $0.47
Analysis:
My Max Risk: $405
Max Reward: $95 or 23% with ADBE over $255 by Nov 18th
Profit Range: ADBE over $255 by Nov 18th
Estimated Commission (round trip): $2.60
Downside Stop: $262.50
Realized P/L: $48 or 11.8% (pre commissions)
