Stock / Symbol: Target Corp / TGT
Option Strategy: bear call spread
Trade entry date / price: 22 Aug 2019 / $104.77
First adjustment date / price: 30 Aug 2019 / $108.90
Trade exit date / price: 13 Sep 2019 / $107.99
Update : With TGT is closing at under $109 last Friday, at $107.99, the position to expired worthless and enabled us to keep the entire credit we took in for the trade.
Position Recap:
Short 2 TGT 30Aug19 107 calls
Long 2 TGT 30Aug19 108 calls
entered for a credit of $0.27 per contract and exited at a debit of $0.92 per contract
+
Short 2 TGT 13Sep19 109 calls
Long 2 TGT 13Sep19 111 calls
entered for a credit of $0.89 per contract and exited at no cost
Analysis:
Max Risk: $352
Max Reward: $48 or 13.6% by Sep 13th with TGT at/under $109
Profit Range: TGT at/under $108.76 by Sep 13th
Realized Profit / Loss: $48 or 13.6% (pre commission)
Trade commissions: $18
