Stock / Symbol: World Wrestling Entertainment / WWE
Strategy: Bear Call Spread
Trade post date: 06 Jan 2023 / $88.05
Price at this post: $87.05
Reasoning: With this position close to my profit goal of 10%, I'm entering in the exit order now. If I'm not filled by Friday, I'll adjust the exit order to ensure it's filled. The position is currently up 7.5% with the stock down just 1.3%. The net Greeks on this position will be approximately: -8.4 Delta, -0.7 Gamma, 0.7 Theta, and -3.5 Vega.
Trade Exit Order:
BTC 1 WWE 21Apr23 100 call
STC 1 WWE 21Apr23 105 call
For a max net debit of $0.65 per contract (GTC order, limit order). The mid is currently at a debit of $0.70. I have not yet been filled.
Analysis:
Max Risk: $400
Max Reward: $100 or 25% with WWE under $100 on Apr 21st
Profit Range: WWE at / under $100.90 on Apr 21st
Estimated Commission (round trip): $2.60
Upside stop @ $97.50
Anticipated Profit / Loss upon fill: $35 or 8.7% (pre commission)
