Stock / Symbol: Small Cap Bull 3x / TNA
Option Strategy: Diagonal Call Spread
Trade entry date / price: 11 May 2023 / $28.80
Price at this post: $35.40
Update / Reasoning: With the net position Delta turning negative, time to take profits on this trade. At entry, the net position Greeks were approximately: 31.5 Delta, -4.4 Gamma, 1.2 Theta and 6.2 Vega. Now, The Greeks are: -0.5 Delta, -6.4 Gamma, 6.3 Theta, and 7.2 Vega.
Trade Exit Order:
STC 1 TNA 19Jan24 30 call
BTC 1 TNA 16Jun23 33 call
For a min net credit of $6.45 per contract (GTC order, limit order). The mid is currently at a debit of $6.53 and I was just filled at $6.48
Analysis:
Max Risk: $515
Max Reward: $200 or 39% with TNA trading at $33 on Jun 16th
Profit Range: TNA between $29.25 and $45.50 by Jun 16th
Commission (round trip): $2.60
Realized Profit / Loss: $143 (28%) pre-commission
