Folks, LVS continues to rip higher. We nailed this trade. June 19/22.50 call spread has expanded even further now going for $2.60. While there is a still $0.90 to go as the spread is completely in-the-money, I think it is prudent to close the position here and take profits.
We originally bought the spread for $1.28. We closed half for $2.00. Now, I just closed the remaining half for $2.60 or 101% profit.
Booyah!
About Me
- Fahad Khalid
- Chicago, IL, United States
- I have Masters in Business (Accounting and Finance 2003) from Michigan State University. I have been trading the market since 1998. Prior to picking up trading as a full-time career in 2008, I was a management consultant at Alvarez & Marsal and Conway MacKenzie for four years. I provided turnaround, crisis management and restructuring services to financially distressed firms. Prior to working in turnaround, I worked in Audit & Assurance at Deloitte & Touche for two years. Trading in the market has always remained my side business ever since I started college. 90% of the time, I trade through options. I love volatility skews and positive Theta plays. While I make a lot of directional bets, in general my favorites are to take advantage of high implied volatilities through calendar or butterfly spreads and vertical credit spreads. I never buy straight calls or puts and I do a lot of exotic multi-leg option trades.
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