I have a position on
ANZ
Doing the following spread:
Trade Date: 4 October 2020
Expiry date: 19 November
Short 16.5 put
Short 19 Call
Long 20 Call
Break Even: $16.08 and $19.42
Credit of $0.415/lot
Expecting ANZ to go up, leading up to earning season.
Possible scenario:
1. ANZ kept going up, hitting 200 EMA resistance, approx $19.50, i will close my spread for a profit of 30-50%
2. ANZ Kept going on the range, of $19 and $16.5. Time Decay working on my favor, close the spread longer, same target profit.
3. ANZ going down below my Break even, i will be assigned with the stock.
ANZ
Doing the following spread:
Trade Date: 4 October 2020
Expiry date: 19 November
Short 16.5 put
Short 19 Call
Long 20 Call
Break Even: $16.08 and $19.42
Credit of $0.415/lot
Expecting ANZ to go up, leading up to earning season.
Possible scenario:
1. ANZ kept going up, hitting 200 EMA resistance, approx $19.50, i will close my spread for a profit of 30-50%
2. ANZ Kept going on the range, of $19 and $16.5. Time Decay working on my favor, close the spread longer, same target profit.
3. ANZ going down below my Break even, i will be assigned with the stock.
running into breakeven close the position because of the assigment risk on earning.
closing the trade
bought short 16.5 put back for 0.06
bought short 19 call back for 0.95
bought long 20 call back for 0.38
total transactions: $0.63 debit
Loss of: $-0.215/contract.