This post is restricted to paying members. To follow are specific new trade details:
Stock / Symbol: Take Two Interactive / TTWO
Strategy: Bull Put Spread
Trade entry date / price: 22 Nov 2022 / $98.45
Price at this post: $106.68
Update: About 10 days into this trade, the position is currently up about 10%. With my plan to exit within 3 weeks for at least a 10% return, I'm going to enter in the exit order now. The position's net position Greeks are currently: 3.9 Delta, -0.2 Gamma, 0.4 Theta, and -2.5 Vega.
Trade Exit Order:
BTC 1 TTWO 17Mar23 85 put
STC 1 TTWO 17Mar23 80 put
For a max net debit of $0.65 per contract (GTC order, limit order). The mid is currently at a debit of $0.63. I was just filled at $0.63
Analysis:
My Max Risk: $395
My Max Reward: $105 or 26% with TTWO over $85 by Mar 17th
Profit Range: TTWO over $84 by Mar 17th
Estimated Commission (round trip): $2.60
Downside Stop: $84.25
Realized Profit / Loss: $42 or 10.6% (pre commission)
