After our successful bets against First Republic.
Fun reading material to read while watching the FULT position:
STC FULT Sep 10 strike put @1.00 exch EDGX and BOX.
Liquidating 1/2 of position at 100% profit. Letting the rest ride at zero risk. Will re-enter if there is a short covering rally.
BTO FULT Sep 5.00-7.50 put verticals @0.15 exch BOX. Looks like you can buy all that you want at that price/exchange. The 7.50 puts were trading @0.25 yesterday, are 0.35 midpoints today but wide bid/ask.
Not filling the sep 7.50-10.00 put verticals @0.30 so ...
BTO Sep 10 Puts @ 0.50 exch BOX
Exited the second half of this put spread at $0.35 today for a gain of 20%.
Followed David Janello's example today and exited half of my FULT spread at $0.75, for a gain of 168%. My GTC limit order to exit the other half is at $2.15.
I had been watching this like a hawk and was able to set up the "limit" order based on Davids suggestion on the spreads.
On 4/28 I bought 10x $10 @ $0.44 for -$446.79
I sold 10x $7.50 @ $0.16 for $153.20 for a debit of -$293.59
On 5/9 I Sold 10x $10 for $1.07 for $1,063.20
I bought 10x $7.50 @ $0.37 for -$370.29 for a credit of $692.91
$399.32 is the profit.
My question is how do you figure out the ROI when the starting price is a debit?
BTO Sep 5.00-7.50 Put Vertical @0.16 exch TBSTRIKE algo
My FULT $10 buy is down -21.66% & - $96.79 with a $446.79 cost basis now @ $350.00
My SFM $7.50 Sell is down -26.80% & -$286.80 with a $153.20 cost basis now @ $450.00
Since I found I need to keep an eagle eye on these, what are your thoughts on how it played out?