Stock / Symbol: [private_monthly]Las Vegas Sands / LVS[/private_monthly]
Option Strategy: calendar call spread
Price at time of trade entry: $50.81
Price at Dec 22 adjustment: $47.39
Price at this adjustment: $46.43
Adjustment: The Jan 52.5 call we sold for $0.80 is now nearly worthless. However, with [private_monthly]LVS[/private_monthly] threatening to pull back further, we're going to buy back the Jan call here for $0.01 and sell the Feb 52.50 call for $0.94, bringing our cost basis down to $1.47 per contract. Max profit is 54% with [private_monthly]LVS[/private_monthly] closing at $52.50 on February 18th.
Current Position:[private_monthly]
Long 2 LVS Mar 52.5 Calls
Short 2 LVS Jan 52.5 Calls
[/private_monthly]
Trade Details:[private_monthly]
BTC -2 LVS Jan 52.5 Calls @ $0.01
STO -2 LVS Feb 52.5 Calls @ $0.94
[/private_monthly]
Max Risk: $294 (adjusted, was originally $636)
Max Reward: $160.50 (at Feb expiration)
Max Called Return: 54%
Uncalled Return: 39%
Profit Range: $48.73 - 57.14 ( at Feb expiration)
Max Profit at: $52.50
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Stock / Symbol: [private_monthly]Zions Bancorp / ZION [/private_monthly]
Option Strategy: diagonal call spread
Entry date: Oct 6th; Price at trade entry: $21.94
Price at Nov 24 adjustment: $19.47
Price at Dec 9 adjustment: $22.79
Price at Dec 16 adjustment: $22.32
With [private_monthly]ZION[/private_monthly] trading under $24 and threatening to pull back further, we're going to close out our position as follows:
[private_monthly]
STC 2 ZION Apr 20 Calls
BTC 2 ZION Jan 24 Calls
for a net credit of $4.15 per contract / a total of $830
and
STC 2 ZION Jan12 20 Calls
BTC 2 ZION Jan 24 Calls
for a net credit of $5.35 per contract / a total of $1,070
[/private_monthly]
Max Risk (adjusted): $1,660
Reward: $204
Profit: 12.30%
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