Stock / Symbol: Gold Miners 3x bear / DUST
Option Strategy: diagonal call spread
Trade entry date / price: Price at trade post: 29 Jul 2019 / $8.82
Price at this post: $8.29
Update: with our long call expiring in 16 days, we're going to take our lumps on this trade and sell it and exit the position.
Current Position:
Long 1 DUST 1Nov19 8 call
at an effective cost of $1.88 per contract
Closing Trade Order:
STC 1 DUST 1Nov2019 8 call
for a min net credit of $0.80 per contract (GTC order, limit order). The mid is currently at $0.75.
Analysis:
Max Risk: $188
Max Reward: unlimited with DUST at/over $10.5 by Nov 1st
Profit Range: DUST at/over $10.5 by Nov 1st
Expected profit / loss upon fill: ($108)
