We’re going to bail on the rest of the trade.
The trade has 3 weeks left, and while there’s the potential for significant more premium, I have a feeling that the july premium is going to be stubborn. And all it takes is a move to 220 and we will have lost all open gains.
Here’s the closing trades:
Sell to Close GS Jul/Oct 205 Put Calendar @ 4.26
Sell to close GS Jul/Oct 215 Call Calendar @ 4.90
Total Gain: 96 per spread
Return on max risk: 11.7%