The long $14 put / short $13 put spread was filled, yes, and if the second put spread gets filled, that will be another two trades. But I’ll either get both trades in that spread filled or neither.
On the first put spread this will be my first. the buy is max profit over $2000 on 2 contracts for $425 & the sell is max loss of $2300 for a price of $298.70. For a newbie, that is sort scary, though will the buy prevent such a huge loss? Thank you for your help.
If that’s more than you wanted to risk, yes, but you should ask your brokerage if they have a built-in spread order entry form, because that would prevent this sort of situation in the future—you’d either get both sides of the spread or neither.
thanks for your help, I am monitoring it , down a little the Buy, and the loss is what I paid, the gain is $2k+, so lets see how it goes & I am with Fidelity, so I'll check on the spread order entry form.
Hi David, so the first on on the put spread you filled already?
The long $14 put / short $13 put spread was filled, yes, and if the second put spread gets filled, that will be another two trades. But I’ll either get both trades in that spread filled or neither.
On the first put spread this will be my first. the buy is max profit over $2000 on 2 contracts for $425 & the sell is max loss of $2300 for a price of $298.70. For a newbie, that is sort scary, though will the buy prevent such a huge loss? Thank you for your help.
I get a warning I don't have enough cash to do the sell with the $2300 max, so do you suggest I sell the $14 bought to open?
If that’s more than you wanted to risk, yes, but you should ask your brokerage if they have a built-in spread order entry form, because that would prevent this sort of situation in the future—you’d either get both sides of the spread or neither.
thanks for your help, I am monitoring it , down a little the Buy, and the loss is what I paid, the gain is $2k+, so lets see how it goes & I am with Fidelity, so I'll check on the spread order entry form.
No problem.
Fidelity definitely has the spread order entry form, as I placed my spread there. But you may need to contact them to enable it.