Stock / Symbol: Walgreens Boots Alliance / WBA
Option Strategy: Diagonal Call Spread
Trade entry date / price: 02 Nov 2023 / $21.51
Price at this post: $23.06
Update / Reasoning: The 22.5 strike call expired worthless back on Nov 24th. Now, with WBA up above my target price of $23, I'm going to take profits on this position. With the CB of the long call now at $5.05, the current position Greeks on this trade are: 74.8 Delta, 2.6 Gamma, -0.3 Theta and 6.6 Vega.
Trade Exit Details:
STC 1 WBA 17Jan25 17.5 call
For a min credit of $6.90 per contract (GTC order, limit order). The mid is currently at a credit of $6.95 and I was just filled at $6.95
Analysis:
Max Risk: $505
Current Max Reward: Unlimited with WBA trading over $22.55 on Jan 17, 2025
Profit Range: WBA above $22.55 by Jan 17, 2025
Commission (round trip): $2.60
Realized Profit / Loss: $190 or 37% (pre commission)
