Stock / Symbol: Target / TGT
Strategy: Bear Call Spread
Trade entry date / price: 06 Mar 2024 / $172.38
Trade exit date / price: 13 Mar 2024 / $167.24
Recap: My exit order for a debit of $1.40 per contract was filled today, right at market open. Realized return of 22% within 6 trading days. My trading plan was to exit the position within 3 weeks for a 20% return, following a pullback in TGT's stock price. My plan also included an upside price stop of $177.
Position Recap:
Short 1 TGT 17May24 175 call
Long 1 TGT 17May24 180 call
Entered for a net credit of $2.06 on Mar 6th. Exited for a net debit of $1.40 per contract on Mar 13th.
Actual completed trade in my ThinkofSwim account:
Analysis:
My Max Risk: $294
Max Reward: $206 or 70% with TGT under $175 by May 17th
Profit Range: TGT under $177 by May 17th
Margin Requirement: $294
Commission (round trip): $2.60
Realized Profit / Loss: $66 or 22.4% (pre commission)
