AMAT passed above the $37 strike. This situation has us at a solid profit but if AMAT maintains its trend we will be losing money. Taking our profits makes sense at this point.
AMZN is in a bullish trend with an exceptionally low IV. We are using a Bull Call Calendar to capture a profit in this situation. I have placed a GTC limit order to close the position at a $2.33 credit, this would give us a $2000 profit.
We are using the strong bull trend on AMAT and its exceptionally low IV to give us the base for a solid Bull Call Calendar. We actually looked at this trade during our FT session on Calendar trades last night and I decided to add it to our ATA trades today.
WDC turned down during this trade and went against us, but the design of the diagonal limited the loss to a very small amount.
A solid trade with NKE ending up right in the range we wanted. Over the last few days, the theta erosion has been strongly in our favor giving us extra profits as we come into the expiration.
WDC has been in a solid uptrend and is also running near the low end of its volatility range. This gives us a good target for a bullish trade, but we want to control the risks if WDC pulls back.