Stock / Symbol: Invesco Solar ETF / TAN
Strategy: Strangle
Trade entry date / price: 18 May 2023 / $70.35
Price at this post: $70.85
Update / Reasoning: Three-week time stop hit today. Closing the trade here.
Trade Exit Order:
BTC 1 TAN 21Jul23 65 put
For a max net debit of $0.95 per contract (GTC order, limit order). The mid is currently at a debit of $0.95. I was just filled at $0.94
Then:
STC 1 TAN 15Sep23 65 put
STC 1 TAN 15Sep23 85 call
For a min net credit of $3.55 per contract (GTC order, limit order). The mid is currently at a credit of $3.60. I was just filled at $3.60
Analysis:
My Max Risk: $495
Max Reward: TAN over $83 by Jul 21st
Commission (round trip): $3.90
Realized Profit / Loss: ($139) or -28% (pre commission)
