Stock / Symbol: Direxion Financial Bull ETF / FAS
Option Strategy: Bear Call spread
Trade entry date / price: 13 Sep 2019 / $79.92
Trade exit date / price: 20 Sep 2019 / $78.69
Reasoning: This trade is already at about 80% of it's profit potential, so we're going to take our profits now.
Closing Trade Details:
BTC 2 FAS 27Sep19 83 calls
STC 2 FAS 27Sep19 85 calls
for a max net debit of $0.07 per contract. The mid is currently at $0.01 (GTC order, limit order). I was filled at a debit $0.07.
Analysis:
Max Risk: $336
Max Reward: $64 or 19% by Sep 27th with FAS at/under $83
Profit Range: FAS at/under $83.32 by Sep 27th
Suggested Downside Stop: NA
Suggested Upside Stop: $83.50
Realized Profit / Loss: $50 or 14.8% (pre commission)
Trade cost (round trip): $12
