Stock / Symbol: NIO Limited / NIO
Strategy: Calendar Call Spread
Trade entry date / price: 16 Dec 2020 / $44.84
Price at this post: $49.10
Update: With NIO hitting our price target today, I'm adjusting the exit order down a bit to get filled sooner. The current Greeks on this position are: 0 Delta, 8.4 Theta, and 8.8 Vega.
Adjusted Exit Order:
STC 1 NIO 21May21 47 call
BTC 1 NIO 31Dec20 47 call
For a min net credit of $10.15 per contract (GTC order, limit order). The mid is currently at a credit of $10.20. I have not yet been filled.
Analysis:
Max Risk: $895
Max Reward: $290 or 32% with NIO at $47 at market close on Dec 31st
Profit Range: NIO between $41.50 and $57on Dec 31st
Estimated Commission (round trip): $2.60
Downside Stop at: $39.50
Take Profits at: $49 to $51 range
Anticipated Profit / Loss upon fill: $127 or 14% (pre commission)
