This post is restricted to paying members. To follow are specific new trade details:
Stock / Symbol: Exxon Mobil / XOM
Strategy: Put Calendar Spread
Trade entry date / price: 23 Nov 2022 / $113.30
Price at this post: $110
Update / Reasoning: Price target of $110 hit. Closing the position here for a quick win. The current net position Greeks are: 3.4 Delta, -7.6 Gamma, 17.1 Theta, and 18.9 Vega.
Trade Exit Order:
STC 1 XOM 17Mar23 110 put
BTC 1 XOM 02Dec22 110 put
For a min net credit of $5.85 per contract (GTC order, limit order). The mid is currently at a credit of $5.90 and I was just filled at $5.85
Analysis:
My Max Risk: $540
My Max Reward: $180 or 33% with XOM at $110 on Dec 2nd
Profit Range: XOM between $106.50 and $114.50 on Dec 2nd
Commission (round trip): $2.60
Realized Profit / Loss: $45 or 8.3% (pre commissions)
