#LongCallDiagonals Here we go…jumping back in. Whiz style but instead of buying a DITM call I’m going synthetic stock with a protective put and selling front months against. June 2019 now available so going out as far as possible.
Bought to Open AMZN JUN 21 2019 1000.0 strike #SyntheticStock @ 38.00
Bought to Open AMZN JUN 21 2019 700.0 Put @ 30.00
Sold AMZN AUG 4 2017 1035.0 Call @ 4.15
Net debit of 63.85 so need to average 65 (.65) dollars per week of front month sales to breakeven. May end up going monthlies if we head back up to give more room. Similar trades on AMZN GOOGL GS JPM EWZ and VRX have capped what could’ve been huge gains due to selling front month too closely.