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New York
Saturday, May 4, 2024

Top Trades for Mon, 09 May 2016 14:17 – CMG

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Top Trades for Mon, 09 May 2016 14:17 – CMG
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CMG coming off the floor again:

Our LTP position is still playable:

  • Sell 5 2018 $400 puts for $47 ($23,500)
  • Buy 10 2018 $430 calls for $92 ($92,000) 
  • Sell 10 2018 $520 calls for $52 ($52.000) 

That's net $16,500 on the $90,000 spread that's $25,000 in the money at $455.  Potential profit is $73,500 (445%) and ToS says margin on 5 shorts is $20,000 – so pretty efficient way to make $73,500!