This post is restricted to paying members. To follow are specific active trade details:
Stock / Symbol: SAP SE ADR / SAP
Strategy: Bear Call Spread
Trade entry date / price: 14 Nov 2022 / $110
Price at this post: $107.25
Update: With my time stop of 3 weeks to exit triggering this week, I'm going to raise my bid from $0.40 to $0.55 in the hopes of exiting the trade today. The current net position Greeks are: -6.3 Delta, -0.4 Gamma, 0.6 Theta, and -3.7 Vega.
Adjusted Exit Order:
BTC 1 SAP 17Mar23 125 call
STC 1 SAP 17Mar23 130 call
For a max net debit of $0.55 per contract (GTC order, limit order). The mid is currently at a debit of $0.60. I have not yet been filled.
Analysis:
Max Risk: $405
Max Reward: $95 or 23% with SAP under $125 on Mar 17th
Profit Range: SAP at / under $125.80 on Mar 17th
Estimated Commission (round trip): $2.60
Upside stop @ $120.50
Anticipated Profit / Loss upon fill: $40 or 9.9% (pre commission)
