Rationale:
-CGC had news of restating the MD&A for Q4 2018 and was down in the pre-market
-IVR was still a bit elevated (56%) so decided to sell put credit spread
-on review, IV didn't even increase on the news but since IVR was high it still made sense to sell the credit spreads
Trade Planning
-add point: no additional adds
-stop loss: 2x credit
-take profit price / risk-reduction plan: 50% premium capture
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-02-21 09:42:47 | APR18 19 40 PUT | buy | $2.380 | long |
2019-02-21 09:42:47 | APR18 19 42.5 PUT | sell | $3.350 | short |
2019-03-20 09:53:30 | APR18 19 40 PUT | sell | $0.7100 | long |
2019-03-20 09:53:30 | APR18 19 42.5 PUT | buy | $1.290 | short |
2019-03-20 10:32:24 | APR18 19 40 PUT | sell | $0.6200 | 0 |
2019-03-20 10:32:24 | APR18 19 42.5 PUT | buy | $1.090 | 0 |
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