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Home › Forums › Member Trades › BBTrader’s Spread Sales › MDVN Mar 115/120 Bear call spreads
Started small position in MDVN Mar 115/120 BCS started 1 contract at $1.50 credit. Will stay small earnings are on Feb 25. Next add is 2 contracts at $1.65 credit. Position looks like this now:
Added 2 contracts MDVN 115/120 BCS fo $1.65 credit. Next add is 2 contracts at $2 credit. Current position looks like this:
Upping the premium to 2.35 on the next spread from the earlier $2 credit and will add 1 contract instead of 2. Earnings are tonight and the market is juicing up the price today.
Cancelling all additional orders on MDVN until after the open. Earnings released last night and may get a pop at the open. I may widen current spread from 115/120 BPS and roll up to make it a 115/125 BPS (widen the spread) for a credit. Will post after the open
Added 6 contracts MDVN 120/125 BCS for $1.485 credit. So posiiton now 3 115/125 BCS and 3 120/125 BCS and looks like this:
Closed 115/125 Bear Call spread for $4.75 Debit
Closed remaining 3 contracts of MDVN Mar 120/125 Bear Call spreads for $1.55 debit. Loss on trade was $550 or 17.5%