RH BWB – Profit Taking

RH currently trading @ $441

Closed out the Long Put credit spread of the BWB, selling the 1x 460 / 2x 440 put spread for a credit of $8. Max profit for a perfect closeout would be $20 – but attack of the gammas by Friday would make that extremely unlikely, unless I went for expiration assignment which I was willing to, but prefer not to do. Trade was placed for a $2.25 credit so net net credit of $10.25. I’ll settle for that.

Leaving the long 1x 410 puts open waiting for a big down move (who knows?).

Original trade placed on November 23:

(RH currently trading @ $442

BTO RH Dec 18, 460 / 440 / 410 Broken Wing Put Butterfly @ $2.25 credit

No risk to the upside (keep the credit) – downside breakeven $415.)

#BWB #CreditCredit trade