Stock / Symbol: Small Cap Bull 3x / TNA
Option Strategy: Calendar Call Spread
Trade entry date / price: 28 Feb 2020 / $47.60
Price at this post: $39.10
Update / Reasoning: With TNA close to our price target of $40, we're going to enter in our exit order.
Trade Exit Order:
STC 1 TNA 15Jan21 40 call
BTC 1 TNA 16Oct20 40 call
For a min net credit of $4.75 per contract (GTC order, limit order). The mid is currently at $4.55
Analysis:
Adjusted Max Risk: ($495) aka "zero risk"
Max Reward: $900 with TNA at $40 by Oct 16th
Profit Range: TNA at any price
Estimated Commission (round trip): $36
Take Profits / Close Position @ $40 to 42 range
Anticipated Profit / Loss upon fill: $810 (pre commission)
