Terra_Incognita
10-10 11:40

$AMZN VERTICAL 261030 PUT 245.0/PUT 240.0$ 1️⃣ Why am I making this trade now?

Bull put spread 30th Oct expiry with strike $245/240.

Catching the upside momentum. The older BPS for 23rd expiry was closed on Fri and assessed the setup is still viable so opened another trade 1 week later to 30th Oct. 

Since the price had moved up by at least $10 between the 2 trades, I've adjusted up the stroked by a $5 higher to short put at $245 and long put 1 strike lower. 

Stock still a distance away from short term high so it the Q4 positive momentum market can carry the trade, then this can be profitable. 

2️⃣ What’s my plan from here?

take profit at around 70-90% max premium.

Take loss of short put strike is hit. 
AMZN Vertical
10-10 00:04
US245.0/240.0
SidePrice | FilledRealized P&L
Credit
Open
-1.13
12
--
Holding
AMZN VERTICAL 261030 PUT 245.0/PUT 240.0
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  • skythelimit
    ·10-10 12:22
    That 5 dollar roll-up makes sense. I care more about IVR here though — 242.5 would give the long leg a bit more breathing room
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