FB 5/1/2017 Look Back Trade

I placed this credit spread with FB trading at $152.20 and I was expecting it to continue to move down. I was shooting for a 30% gain. The next day FB had moved up to $153.45, not the move I expected. I started working on getting out of the trade.

On 5/3 FB moved down to $151.39 and I was able to get out without losing anything. Even managed to walk away with a small $50.00 profit. Not as good as the $1,400.00 credit I started out with, but beats losing.

Date

Sym

Exp

Strike

Price

C

Type

Cost

Balance

05/01/17

FB

BTO

MAY17

$160.00

-$1.07

10

C

-$1,070.00

-$1,070.00

05/01/17

FB

STO

MAY17

$155.00

$2.47

10

C

$2,470.00

$1,400.00

05/03/17

FB

STC

MAY17

$160.00

$0.72

10

C

$720.00

$2,120.00

05/03/17

FB

BTC

MAY17

$155.00

-$2.07

10

C

-$2,070.00

-$50.00

Profit:

$50.00

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