Stock / Symbol: Proshares Ultra Short Real Estate ETF / SRS
Strategy: Diagonal Call Spread
Trade post date: 05 Aug 2022 / $15.00
Price at this post: $15.90
Update / reasoning: Came close but didn't get filled asking $2.35 per contract. With SRS recovering from another dip, I'm adjusting the exit order down to $2.20 per contract. The current net position Greeks on this Diagonal Call Spread are: 49.9 Delta, -15.4 Gamma, 3.1 Theta, and 3.2 Vega.
Adjusted Trade Exit Order:
STC 1 SRS 20Jan23 15 call
BTC 1 SRS 16Sep22 17 call
For a min net credit of $2.20 per contract (GTC order, limit order). The mid is currently at a credit of $2.15.
Analysis:
My Max Risk: $175
Max Reward: $150 or 85% with SRS at $17 on Sep 16th
Profit Range: SRS over $14.50 by Sep 16th
Estimated Commission (round trip): $3.25
Suggested upside stop: $16.50 to $17 (take profits)
Anticipated Profit / Loss upon fill: $75 or 42.8% (pre commission)
