Ticker: SMH
Price: $149.84
Date: 6/22/23 12:45 pm EST
Underlying: Vaneck Semiconductor ETF

Est. Net Credit/Debit: $1232 debit

Master Portfolio Contracts: 7

Notes: We’re going to be rolling our calls out and collecting premiums that will help pay for our adjustment calendar.  We’re currently in a 155 call spread, so adding the 145 put spread will give us some downside protection, while still benefiting from possible theta decay.  

TRADE ACTION 1: Roll the calls for a credit of around 1.00 – 1.10

BTC the 23 JUN 155 call
STO the 7 JUL 155 call

TRADE ACTION2: Add a new calendar spread for a debit of around 2.76 – 2.86
BTO the 18 AUG 145 put
STO the 7 JUL 145 put

POSITION AFTER TRADE DETAIL:

+7 SMH 18 AUG 150 call
-7 SMH 7 JUL 155 call
+7 18 AUG 145 put
-7 7 JUL 145 put