Exit Order Adjustment – UVXY Calendar Call Spread

Stock / Symbol: Ultra VIX ETF / UVXY
Strategy: Calendar Call Spread
Trade entry date / price: 17 Sep 2020 / $19.63
Price at this post: $20.80

Reasoning: Looks like the market sell-off is over. Going to adjust the sell order to get filled asap. The current Greeks on this position are: 27.9 Delta, 2.3 Theta and 2.2 Vega.

Trade Exit Details:

STC 1 UVXY 30Oct20 30 call
BTC 1 UVXY 25Sep20 30 call

For a min net credit of $2.00 per contract (GTC order, limit order). The mid is currently at a credit of $2.10 and I was filled at $2.11


Max Risk: $195 / My Actual Risk: $185
Max Reward: $475 or 240% with UVXY at $30 by Sep 25th
Profit Range: UVXY between $20.60 and $50.00 by Sep 25th
Estimated Commission (round trip): $2.60
Realized Profit / Loss: $26 or 14% (pre commission)

Positive Theta

Leave a Reply

Your email address will not be published.