Stock / Symbol: CurrencyShares Euro Trust / FXE
Option Strategy: put spread
Price at trade entry: $144.56
Price at this post: $141.73
Reasoning: We got our anticipated pullback in the EURO and we're going to enter our sell order here. The most we could get for the spread is $1.00 but that will likely take until near close of trading on Friday. So, we're going to put in a closing order for a credit of $0.95 per contract, giving us a near 98% gain upon fill.
Trade Details:
STC 3 FXE Jun11 145 Puts
BTC -3 FXE Jun11 144 Puts
for a net credit of $0.95 per contract
Max Risk: $144
Max Reward: $156 or 108% by Jun 17th
Profit Range: $0 - $144.45
Max Profit at: $0 - $144
Realized profit/loss upon fill: $141 or 97.92% (pre-commission)
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