We have reached “full profit” on our JPM broken wing butterfly trade. With the holiday coming up and a short trading session Friday, let’s close it now and take our profit. We entered the trade collecting 1.70 of credit and can close it for a net debit of 0.98 … leaving us with a net credit of 0.72 or $360 and a 22% return in 11 days.
JP Morgan (JPM): 134.14
TRADE ACTION: CLOSE the JPM 25 Nov 127 put / 132 put and JPM 25 Nov 132 / 133 call for a net debit of around 0.97
STC the JPM 25 Nov 127 put
BTC the JPM 25 Nov 132 put
BTC the JPM 25 Nov 132 call
STC the JPM 25 Nov 133 call
The Master Portfolio is trading 5 contracts. We will look to re-open this trade in tomorrow’s live trading session at 10:30 AM Eastern.