Stock / Symbol: DISH Network / DISH
Option Strategy: Diagonal Call Spread
Trade entry date / price: 08 Jun 2023 / $7.40
Price at this post: $8.26
Update / Reasoning: DISH had positive market reaction to its earnings announcement yesterday morning, helping to propel this position to positive territory. I'm going to enter in my exit order here and attempt to capture about a 12% return on risk. The open position net Greeks are currently: 16.9 Delta, -56.8 Gamma, 5.3 Theta and 2.0 Vega.
Trade Exit Order:
STC 1 DISH 17Jan25 5 call
BTC 1 DISH 11Aug23 8 call
For a min net credit of $4.60 per contract (GTC order, limit order). The mid is currently at a credit of $4.55. I have not yet been filled.
Analysis:
Max Risk: $450
Current Max Reward: $62 or 13.7% with DISH trading at $8 on Aug 11th
Profit Range: DISH above $7.25 by Aug 11th
Estimated Commission (round trip): $5.20
Anticipated Profit / Loss upon fill: $54 or 12% (pre commission)
