Stock / Symbol: Dow ETF / DIA
Strategy: Vertical Put Spread
Trade entry date / price: 29 Apr 2021 / $338.10
Price at this post: $342.45
Reasoning: Upside stop at $342.44 was triggered today, exiting the trade now to avoid further loss on this position.
Trade Exit Order:
STC 1 DIA 14May21 345 put
BTC 1 DIA 14May21 342 put
For a min net credit of $1.40 per contract (GTC order, limit order). The mid is currently at a credit of $1.46 I was just filled at $1.47
Analysis:
Max Risk: $210
Max Reward: $90 or 42% with DIA under $342 on May 14th
Profit Range: DIA at/under $342.75 on May 14th
Estimated Commission (round trip): $2.60
Suggested upside stop @ $342.44
Realized Profit / Loss: -$63 or -30% (pre commission)
