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TECK short strangle

UPDATE: Apr 25, 2017

BTC 1 TECK Apr28 24.00 call @ 0.02 debit

The company reported earnings this morning before market opening. The stock tanked almost 6%. This was great for our remaining calls.

We closed our call side of the trade this morning. As of now, we are out of the entire trade for a profit.

We originally collected 0.22 credit per contract:
Total = 0.44 or $44 dollars credit
 

We closed both legs for 0.02 per each:
Total = 0.08 or $8 dollars debit

Total profit = $36 in 5 days (0.85% or 61.95% annualized profit)

 

Show more...

 

UPDATE: Apr 24, 2017

BTC 1 TECK Apr28 19.00 put @ 0.02 debit

Closed put side of the trade this morning. Still holding the call side.

 
ORIGINAL TRADE: Apr 20, 2017
 

I like trading strangles. I consider them save and very profitable trades. There are risks involved but if you know how to work with risks, you have nothing to fear. And if there was no risk, there would be no money made.
 

As I mentioned yesterday that I might open a new strangle against TECK in my trading account, here is the trade:

 

STO 2 TECK Apr28 24.00 call
STO 2 TECK Apr28 19.00 put
@ 0.22 credit limit day

 
SPX trend reversal
 

Note, TECK reports ER in this expiration week so the trade may be too risky for some novice traders. I am also widening my strangle spread should the stock act violently after reporting .

The trade executed for 0.22 credit (total 0.44 credit or $42 dollars).
 

I immediately placed a buy back order to buy both legs separately for 0.05 debit.

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