Stock / Symbol: Target / TGT
Strategy: Bull Put Spread
Trade entry date / price: 02 Jun 2023 / $131.30
Price at post: $134.85
Reasoning: With TGT up just under 3% from where it was at entry, I'm looking to close out this position for about a 12 to 13% return. At the moment, the Greeks on this position are: 8.0 Delta, -0.4 Gamma, 0.8 Theta, and -3.3 Vega.
Trade Exit Order Details:
BTC 1 TGT 15Sep23 125 put
STC 1 TGT 15Sep23 120 put
for a max net debit of $1.15 per contract (GTC order, limit order). The mid is currently at $1.17. I have not yet been filled.
Analysis:
My Max Risk: $340
My Max Reward: $160 or 47% with TGT at/over $125 on Sep 15th
Profit Range: TGT over $123.50 by Sep 15th
Estimated Commission (round trip): $2.60
Downside Stop: $125
Anticipated P/L: $45 or 13.2% (pre commission)
