I previously posted an AMZN calendar for debit of 2.58 (http://wiatradinglabsblog.blogspot.com/2009/09/amzn-calendar.html).
Tomorrow, I will adjust the trade and put on another calendar spread on AMZN to prop-up the bullish side of my trade. The risk graph now looks like a tent that extends from 75 to 130.
+ 1 Apr 110c
-1 Jan 110c
2.60 debit
Max risk on the trade is now about $500. Max reward (which I'm not shooting for), is 850 at 110 strike at expiration. I'm shooting for about $400. That's a 20% (up to about 54) rise in IV by October 9th, which is when I'd like to be out of the trade.
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