Stock / Symbol: Direxion Small Cap Bull 3x / TNA;
Option Strategy: [private_monthly]bull put spread[/private_monthly];
Trade entry date / price: Aug 16 / $54.60
Price at this post: $56.59
Reasoning: As of this morning, we've captured about 70% of the potential profit on this trade and we're up over 8%. Going to book the win here. Current Greeks on the position are: 6.7 delta, a 3.7 theta, and -1.3 vega. Using a GTC order in case I'm not filled today.
Trade Details:
BTC -2 TNA Sep13 45 puts
STC 2 TNA Sep13 40 puts
for a max net debit of $0.13 per contract (GTC order, limit order). The mid is currently at $0.13 per contract
Max Risk: $900
Max Reward: $100 or 11% at or over $45 by Sep 20
Profit Range: $44.60 + by Sep 20
Suggested Upside stop: NA
Suggested Downside stop: @ 41.80
Realized Profit / Loss upon fill: $74 or 8.2% (pre-commission)
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