Stock / Symbol: [private_monthly]Las Vegas Sands / LVS [/private_monthly]
Option Strategy: calendar call spread + calendar put spread
Date trade entered: Nov 4, 2010
Price at trade entry: $50.81
Price at this adjustment: $37.82
Current PosItion:
[private_monthly]
Long 2 LVS Sep 52.50 Calls
[/private_monthly]
Adjustment: The Jun calls we sold expired worthless and we're going to add a calendar put spread as the stock is now trending downward.
If you're not currently in this trade, this calendar put spread is a great low risk, high reward trade.
Trade Details:
[private_monthly]
BTO 4 LVS Sep11 39 Puts
Sell -4 LVS Aug11 39 Puts
for a net debit of $0.50 per contract
Requirements:
Cost/Proceeds $200.00
Option Requirement $0.00
Total Requirements $200.00
Estimated Commission $14.95
[/private_monthly]
Risk Profile for this portion of the trade
Risk: $200
Max Reward: $523 or 260% by Aug 2011 expiration
Profit Range: $35.50 - $43.15
Max Profit at: $39 by Aug 2011 exp
Uncalled Return: 87%
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