FB 26OCT Bull Put spread (872)

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This topic contains 5 replies, has 1 voice, and was last updated by  Igor 1 month ago.

Viewing 6 posts - 1 through 6 (of 6 total)
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  • #14354

    Igor
    Keymaster

    FB failed to break out above 170 and now it looks like it held 160 once again. We’re looking to put on a bullish trade in 26OCT expiration with 23 days to expiration.

    We’re going to scale in and out of this trade. We want to be all out of this trade with about 7 days to expiration.

    Tier 1. Sell To Open 26OCT 155/150 Bull Put spread at 0.80 (close at 0.30)
    Tier 2. Sell To Open 26OCT 155/150 Bull Put spread at 1.20 (close at 0.70)
    Tier 3. Sell To Open 26OCT 155/150 Bull Put spread at 1.60 (close at 1.10)

    We’re going to stop out at a loss of 1.5X total credit. Stop when this spread is trading at 3.00

    Order Ticket
    Type Asset Duration Strike C/P
    Sell To Open FB 26OCT 18 155 Put
    Buy To Open FB 26OCT 18 150 Put
    Total Credit: 0.80

     

    Risk Profile:

    #14359

    Igor
    Keymaster

    Scaling Tier 2. Sell To Open 26OCT 155/150 Bull Put spread at 1.20 (close at 0.70)
     

    Order Ticket
    Type Asset Duration Strike C/P
    Sell To Open FB 26OCT 18 155 Put
    Buy To Open FB 26OCT 18 150 Put
    Total Credit: 1.20
    #14361

    Igor
    Keymaster

    Scaling Tier 3. Sell To Open 26OCT 155/150 Bull Put spread at 1.60 (close at 1.10)
     

    Order Ticket
    Type Asset Duration Strike C/P
    Sell To Open FB 26OCT 18 155 Put
    Buy To Open FB 26OCT 18 150 Put
    Total Credit: 1.60
    #14364

    Igor
    Keymaster

    Scaling out T3

     

    Order Ticket
    Type Asset Duration Strike C/P
    Buy To Close FB 26OCT 18 155 Put
    Buy To Close FB 26OCT 18 150 Put
    Total Debit: 1.10
    #14367

    Igor
    Keymaster

    I’m going to cut this position by 50%

    There are 11 days left to expiration and now this put spread is going to become very sensitive to price changes.

    I will stop out IF/WHEN this spread is trading at 2.70 or higher

     

    Order Ticket
    Type Asset Duration Strike C/P
    Buy To Close FB 26OCT 18 155 Put
    Buy To Close FB 26OCT 18 150 Put
    Total Debit: 1.80
    #14368

    Igor
    Keymaster

    I’m going to close out the rest of this trade
     

    Order Ticket
    Type Asset Duration Strike C/P
    Buy To Close FB 26OCT 18 155 Put
    Buy To Close FB 26OCT 18 150 Put
    Total Debit: 0.70
Viewing 6 posts - 1 through 6 (of 6 total)

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