Stock / Symbol: Meta Platforms / META
Strategy: Bull Put Spread
Trade entry date / price: 27 Oct 2022 / $100
Price at this post: $114.20
Update / Reasoning: With my goals for this trade now met (A - within 3 weeks; B - META trading between $110 and $115), I'm closing out this position to lock in the profits. The current net position Greeks are: 1.9 Delta, -0.1 Gamma, 0.5 Theta, and -1.5 Vega.
Trade Exit Order:
BTC 1 META 20Jan23 80 put
STC 1 META 20Jan23 75 put
For a max net debit of $0.30 per contract (GTC order, limit order). The mid is currently at a debit of $0.28. I was just filled at $0.29
Analysis:
Max Risk: $420
Max Reward: $80 or 19% with META over $80 by Jan 20th
Profit Range: META over $79.25 by Jan 20th
Estimated Commission (round trip): $2.60
Downside Stop: $86.50
Realized Profit / Loss: $52 or 12% (pre commissions)
