Trade Recap – UBER Diagonal Call Spread

Stock / Symbol: UBER
Strategy: Diagonal Call Spread
Trade entry date / price: 17 Jul 2020 / $32.00
Trade exit date / price: 11 Sep 2020 / $36.99

Recap: Our exit order was filled last Friday at 12:35pm PST for a credit of $9.10. With an entry at a debit of $7.27 + a credit of $0.29 for the 2nd short call we sold, our net gain (before commissions) was $2.12 per contract.

Position Details:
Long 1 UBER 21Jan22 32 call
Short 1 UBER 21Aug20 35 call (expired worthless)
Short 1 UBER 18Sep20 35 call (STO on Aug 24th)

Analysis:

Max Risk: $700
Max Reward: $280 or 40% with UBER at $35 by Sep 18th
Profit Range: UBER between $31.35 and $44 by Sep 18th
Commission (round trip): $3.25
Suggested stop @ $21.65
Realized Profit / Loss: $212 or 30% (pre commission)

Positive Theta

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