OPENING: VXX FEB 23RD 25.5/28.5 LONG PUT VERTICAL
... for a 2.20/contract debit.
Max Profit: $80/contract
Max Loss: $220/contract
Break Even: 26.30
Notes: This filled immediately at open, so I wasn't able to adjust the price (to be honest, wasn't expecting it to fill right off the bat). You may still be able to get a fill for slightly better than I did or shoot for the 26/29's for less than 2.25/contract ... .
Max Profit: $80/contract
Max Loss: $220/contract
Break Even: 26.30
Notes: This filled immediately at open, so I wasn't able to adjust the price (to be honest, wasn't expecting it to fill right off the bat). You may still be able to get a fill for slightly better than I did or shoot for the 26/29's for less than 2.25/contract ... .
Trade active:
As with my March 2nd spreads with the same strikes, I'll shoot to scratch these out, since we had that pop where I was able to put some setups on with better strikes.