neutral to bullish BXB ( asx) - bull credit spread

2020年6月16日

This is based on ' The Anty' strategy in which after a normal correction degree, there is at least the same or better recovery in price - a neutral to bullish strategy is bull put spread ( paid a credit) and with only 8 days until expiry benefit from time-decay at a fairly high probability scenario....it needs to close below 10.98 at expiry ( using european style options) so get exercised and forced to purchase stock at this price ( 500 shares contracted). There is put protection below at 10.48 so if really falls hard the most I can lose is -$500 ( fixed loss). Of course I would hold the stock until at least recover the loss as an attractive price over 3 months...

2020年6月23日

交易开始

This sold PUT is gone 'into the money' but as European I can wait until expiry
on July15th to see if price recovers > 10.98 and I am NOT EXERCISED.
Otherwise, I will to decide whether to roll it down or exit for smallest loss possible - as time decay will help this....

2020年6月24日

交易手动结束

At 1 day before June 25th expiry I must do evasive action to avoid being exercised and taking delivery of the stock plus brokerage costs which can be steep.
I have decided to roll out & down one strike until next Month expiry in July 15.
This way if successful I will come out at break-even and not take delivery of the stock.
As I have success on 4 out of five put bull ( credit) spreads this means I've had a 20% failure rate...which makes it a successful strategy given I may not take any loss at all if this plan works and the stock rallies at least > 10.75