Recent: F90C1C2C-FB6B-4B47-9B7A-363608064839.png

F90C1C2C-FB6B-4B47-9B7A-363608064839.png

Bullish BMY 
Good risk/reward.

Comments

CainCain
Director, what's the point of shorting 65 put with basically no extrinsic value if you count the bid/ask slippage? might as well just long stock? and long stock long 55 put is just long 55 call, so this position is just long 55 call and long 57.5 call right? correct me if I'm wrong 1 week 3 days ago
MississippiManMississippiMan
@Cain 
The break even on The Director's position is 58.08  
Max loss is 3.08 
If you just want bullish action you could buy the 55 call for @ 2.15 
The break even would be @ 57.15 1 week 2 days ago
The DirectorThe Director
I exit the trade no later than 1/2 the time to expiry. B/e now is 53.66, and 55.41 at 1/2 time to expiry, which is improved upon a naked call. Cost is $633 (for 3), and $495 for 3 naked 55 strike calls (unless youre using different expiry from mine). If youre using different expirations- well more than one way to skin a cat, as they say. Can be hard to compare. 1 week 2 days ago
The DirectorThe Director
Cain, I’m putting on an ITM put credit spread which has low loss if youre wrong and high gain if right. I augment with a 30 delta call for essentially a risk reversal/super bull. Stock = call + put.  
 
Spread actually had tight bid ask- about 2-3 cents (why spreads can sometimes be better than straigh naked calls/puts). 
 
Overall all long delta. 120 delta for the sold puts and 90 delta for calls == 210 shares long. $633 is cost here, but $5680 w reg t margin if just long stock 1 week 2 days ago
The DirectorThe Director
Correction stock = call - put 1 week 2 days ago