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Home › Forums › Member Trades › BBTrader’s Spread Sales › AWI Mar 55/60 Bear Call Spreads
Started position in AWI Mar 55/60 Bear Call Spreads (BCS). 2 Contracts entered at $1 credit. Next add is 2 more contracts at $1.50 credit
Position looks like:
Added 2 contracts AWI Mar 55/60 BCS for $1.50 credit. Next add is 2 contracts at $1.75 credit Position now looks like:
Changing next add to $2.50 for 2 contracts. Rising in pre-market earnings missed but announced spin-off of flooring business
Added 1 contract of AWI Mar 55/60 BCS for $2.25 credit. Next add is 1 contract at $2.60 credit. Current position looks like:
Added 1 contract at $2.60 credit. Next add is 1 contract at $3 credit. Position looks like this now:
Changed strategy. Added 3 Mar 55/50 BPS for $1 credit creating unbalanced Iron Fly. Position looks like this and no planned additions:
Added 3 Contracts of Mar 55/50 BPS for .69 credit. Making an Iron Fly. Trade now looks like this:
Bought back 3 contracts of the AWI MAr 55/60 Bear call spreads for $1.80 debit. Creating an unbalanced Iron Fly. Trying to protect any upside moves to recent highs. Position now looks like this:
Bought 3 contracts of AWI Mar 55/50 BPS for $1 debit to create a balanced Iron Fly. Position now looks like:
Slowly exiting the AWI trade want to get out with a profit but may have to settle for scratch. So, I closed 2 contracts of the Mar 55/60 Call spreads for a $2 debit and closed 1 contract of the Puts spreads for $.40 debit. Current position looks like:
Bought 1 contract to close AWI MAr 55/60 Bear call. Still holding 2 contracts of the AWI 55/50 BPS. Position now looks like:
Closed the remaining 2 contracts of the AWI Mar 55/50 BPS for .15 debit. Did not want to go to opex with this. Trade was profitable with 3.6% ROM before close it looked like this: