This post is restricted to paying members. To follow are specific trade adjustment details:
Stock / Symbol: Walgreens / WBA
Strategy: Diagonal Call Spread
Trade entry date / price: 17 Sep 2020 / $37.18
Price at this post: $39.32
Update / Reasoning: Our trade exit stop with WBA trading at/over $39.00 has been hit so we're going to close the trade out now.
Trade Exit Order:
STC 1 WBA 16Apr21 35 call
BTC 1 WBA 20Nov20 38 call
For a min net credit of $3.85 per contract (GTC order, limit order). The mid is currently at a credit of $3.83 and I was just filled at $3.85.
Analysis:
Max Risk: $440 (my actual risk is $435)
Max Reward: $120 or 27% with WBA at $38.00 by Nov 20th
Profit Range: WBA between $36.25 to $42.00 by Nov 20th
Estimated Commission (round trip): $4.55
Take Profits at: $39
Suggested Downside Stop: $33.35
Realized Profit / Loss: $19 or 4.4% (pre commission)
