What are the chances for AMZN to stay in-between 65.24 to 70.73 by June expiration, in 18 days?
How about this one........
What are the chances for AMZN to close below 65.24 or above 70.73 in 18 days?
I pondered on the 2nd question and executed the following trade on 5/25 just moments b4 the close. (click on image to enlarge)
As long as AMZN is outside of 65.24 to 70.73 I can't lose.
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6-11 trade update
At 10:11 am EST today I bot back 5x of the jun 72.5p for 1.35 each (originally sold for 4.75 each). Taking some $$ off the table and most importantly, reduced my max risk considerably.
Cumulated P/L shown below.
6/12
Towards the close sell to close 5x jun 67.5p for .25 a piece to reduce decay against me.
6/13
exited 2x 72.5/67.5p spread for 1.94 ea at around 10:15am EST. Upper wing is done all with profit. Entering a limit sell order for .15 10x 67.5/65p to exit the lower wing. Any recoup from the lower wing at this point I consider a bonus.
Exited 10x 67.5/65p spread for .15 a piece on that dip intraday. Limit order executed at 1:09 EST. I am all out with +$460 for 20% return (max margin was $2250).
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