Stock / Symbol: Lockheed Martin / LMT
Option Strategy: put spread
Price at trade entry: $79.53
Price at this post: $75.89
Reasoning: We had a great call on LMT and with it trading near it's 200 day average, we're going to close out the trade here for a 94.92% gain. As usual, this is a GTC limit order.
Trade Details:
STC 1 LMT Jun11 80 Put
BTC -1 LMT Jun11 75 Put
for a net credit of $3.45 per contract
Max Risk: $177
Max Reward: $320 or 177% by Jun expiration
Profit Range: $0 - $78.20
Max Profit at: $0 - $75
Realized reward upon fill at closing order: $168 or 94.92%
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