Update: August 9th, 2018
Rolling the Aug 80 to Sep 80 and adding the Sep/Dec 82.50 Calendar
Update: August 22nd, 2018
Adding the third and final calendar.
Update: September 5th, 2018
Rolling the 80 calendar to 87.50 calendar.
Update: September 12th, 2018
Closing out the trade.
Basis and P/L Calculations
Trade #1
Buy to Open UAL Aug/Dec 80 Put Calendar @3.10
Margin: 3100
Trade #2
Roll Aug 80 Put to Sep 80 Put
Credit: 1.05
New Basis of Sep/Dec 80 Put Calendar: 2.05
Margin: 2050
Trade #3
Buy to Open UAL Sep/Dec 82.50 Put Calendar @2.35
Margin: 4400
Trade #4
Buy to Open UAL Sep/Dec 85 Put Calendar @2.55
Margin: 6950
Trade #5
Sell to Close Sep/Dec 80 Put Calendar @1.63
Realized Loss: -420
Margin: 5320
Trade #6
Buy To Open Sep/Dec 87.50 Put Calendar @2.87
Margin: 8190
Closing Trades
Sell to Close UAL Sep/Dec 87.50 Put Calendar @3.34
Realized Profits: 470
Sell to Close UAL Sep/Dec 85 Put Calendar @3.01
Realized Profits: 460
Sell to Close UAL Sep/Dec 82.50 Put Calendar @2.45
Realized Profits: 100
Total P/L: 610
Return on Capital: 7.4%