Stock / Symbol: YETI Holdings / YETI
Strategy: Bull Put Spread / Put Ratio Backspread
Trade post date: 16 Sep 2021 / $101
Price at this post: $88.45
Reasoning: Thanks to yesterday's adjustment of adding the 2nd long 92.5 put, and with YETI trading in the $88 range, this position is now sitting on a decent profit. I'm closing out the trade here for around a 14% return.
Trade Exit Order:
STC 2 YETI 15Oct21 92.50 puts
BTC 1 YETI 15Oct21 95 put
For a min net credit of of $3.40 per contract (GTC order, limit order). The mid is currently at a credit of $3.50. I was just filled at $3.60
Analysis:
Adjusted Max Risk: $550 (up from $200)
Max Reward: unlimited with YETI under $87 by Oct 15th
Profit Range: YETI under $87 at market close on Oct 15th
Estimated Commission (round trip): $3.90
Realized Profit / Loss: $80 or 14.5% (pre commission)
