Stock / Symbol: Google / GOOG
Option Strategy: put spread
Trade entry date: May 12
Price at trade entry: $534.97
Price at closing post: $522.70
Reasoning: Today GOOG hit our price target of $520 so we're going to close this trade out early for a quick 40% or so gain. As usual, this is a GTC (Good Till Canceled) order.
Closing Details:
STC 1 GOOG Jun11 530 Put
BTC -1 GOOG Jun11 520 Put
for a net credit of $5.10 per contract
Max Risk: $360
Max Reward: $640 or 177% by Jun 17th
Profit Range: $0 - $526.30
Max Profit at: $0 - $525
Reward upon fill: $150 or 41.67%
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