Trading Long Call Diagonals | Long Verticals & Diagonals

good day everyone john mcnichol here and welcome to long verticals and diagonals what we'll do is we'll take a look at some of the current market conditions we'll go ahead and discuss and do a practice trade on a long call diagonal give some background on what it is and why someone would consider that strategy and we'll also go ahead and look at existing positions and talk about uh profit management as well as rolling potential options so stick around well it's great to see those that are live with us today such as vijay juanita uh marcy krishna lou alfred peter sandeep chuck we got michael soul bob peter larry and everyone else there we got h montero monique joining us great we have mr mike fairborne helping out on the chat any questions i am unable to get to he'll be more than happy to help you may see mr fairborne doing demos on our thinkorswim platform very knowledgeable on the platform also has extensive investing experience as well particularly in the fundamentals camp make sure you keep an eye on him on the investor talks channel which by the way whenever you see any of our webcasts there is a little subscribe button on the bottom there so if you're enjoying the content and not already doing that consider clicking subscribe you're on the trader talks channel right now and when you see some of mr fairborne's uh instruction you'll see him on the investors insight channel and you can click on that icon when you see it pop up so appreciate that support and also for those of you that are listening to the archive session as well uh you can follow both mr fairborn michael and myself on our twitter handles it's our first initial last name you can see mine at the bottom of the screen at j mcnichol underscore tda throughout the presentation mike will share his on the chat there thank you michael remember the contents intended for educational information purposes only not investment advice or recommendation of any security strategy or account type options not suitable for all investors and strategies that we're talking about today such as diagonals our spreads and spread straddles of the multi-lake option strategies can entail substantial transaction costs multiple commissions advanced option strategies often involve greater more complex risk than single-leg option trades also uh the spreads include a a long and a short component to that spread long options the entire position is put at risk likewise with short options they can be assigned at any time regardless of the in the money amount now there's some other disclosures on transactions make note of 65 per option contract fee applies to option trades and while this webcast may discuss technical analysis other approaches include fundamental analysis may assert very different views and you're encouraged to practice what you learn here today with tools such as the paper money software application which is for educational purposes only and successful virtual trading during one time period does not guarantee success of actual funds during a later time period as mark conditions change continuously there's a bio if you are new to this webcast welcome this is a strategy centric uh webcast where we uh deal a little more intermediate in some cases may come across as being a little more advanced but do appreciate you being here and you can follow along we'd encourage you to take a look at some of our getting started series which is available on the td ameritrade website as well as the thinkorswim educational tab we have a great series by barbara armstrong called getting started with options likewise there is a live event virtual workshops which are held on a regular basis every week for that matter on different topics we do have both a trading options and an advanced option strategies workshop some of you may have joined me uh in the last two iterations of the advanced options workshop we completed uh one i believe uh last week uh weeks are kind of running into each other for me uh where we talk about uh this type of strategy we'll be doing here today uh long diagonals on top of other advanced strategies like iron condors calendar so this webcast is focused on a little more strategy specific primarily long diagonals and long verticals and we'll cycle through those different examples each and every week going over the theory looking at the charts and applying some trade examples while also ongoing managing those practice positions that's what we do today we're going to review current market conditions discuss what a long call calendar or long call diagonal is and we'll do a practice trade and then we'll also go ahead and review our open practice positions and that ties into some of the exit strategies and trade management that comes with these trades all right without further ado let's go ahead and bring up thinkorswim platform and wiley great thanks for being with us last week appreciate you we got tony checking in from uh arizona there where i believe it's still uh an hour uh is it still an hour early or or we're just an hour late i think is what people in arizona may say uh appreciate that all right looking at the spx well uh it continues something we've been talking about uh for for weeks uh you know volatility back and forth in the market uh we did have a a nice surge over the previous two sessions on the s p as prices uh still holding a lower range uh however uh still have a ways to go to get above some of those overall averages so we have more of a a triangle or a rectangle forming really it's in the eye of the beholder as we look at the trend you can see the fall and moving averages which indicate that downward trend as we go ahead and take a look at areas of resistance looking at that trend notice we are trading up to that trend line potential resistance now some traders with whether may be looking for prices to continue going sideways and break the trend based off of time that would be beneficial to the strategy that we're talking about today such as a long call diagonal even potentially a long put diagonal if you're expecting price to stay in a limited range as well as possibly volatility uh rising or being somewhat stable but benefiting from that passage of time so we'll see how things play out but uh you know slightly negative on the s p as we trade up on that area looking at the uh the nasdaq ndx similar situation however on the draw uh on the trend line we may already have a break whether based off of time uh or as far as price but kind of uh convergent on that resistance area trying to get it back above some of these previous lows and uh you know once again from a a bullish perspective as far as a trend reversal traders are probably looking for a break and hold above a major previous high you can see the characteristics of that possibly a double bottom however rectangles can also be continuation if we see failure particularly kind of around the trend line and possibly continued selling looking for those lows being taken out certainly a lot of unknowns with what's going on in russia and ukraine and as well as around the world inflation still weighing heavily as we look at the small caps very distinct rectangle pattern that continues to slash or slush or slash or slush back and forth between that support and resistance and kind of coming up on a 50-day average there that is still falling let's go and take a look at the vix vix and a continued theme uh volatility has uh backed off of some of the highs from the year potentially finding some support and this has been a theme on the trending characteristics that we've been seeing of volatility lately going back to november that even though it's a a mean reverting and it has a tendency of reverting to its mean at some point it can take a little while to do that and also as markets go in correction as well as potentially bear markets uh those volatility ranges may be higher you know just we don't have to go very far just over the last two years we can see different ideas as far as volatility what's high what's low that's going to be relative okay we discuss kind of in the theme of buying versus selling options that when it comes to volatility ideally volatility is relatively low more conducive to long option strategies not necessarily bullish or bearish but you know as far as buying options since they're relatively cheaper whereas if volatility is relatively higher then premiums may be more expensive maybe more conducive to selling those options now as we look at the current market condition if the assumption is that volatility weather may rise or be somewhat in an elevated range over a period of time that could be conducive to being along those options and we'll actually apply that today with our example of a a long call diagonal all right and to do that uh let's go ahead and make sure we're following our agenda here let's go ahead and discuss on what a long part of me as i'm uh switching out a few things in the background here they're popping up i think we're okay now you know in simple terms for a long call diagonal for those of you that may be fairly new to this strategy a good comparison potentially is a covered call when you think about what a covered call is is when one owns a stock that is the long position okay and then they consider selling premium against that long stock and what are the benefits of that well in the case of a a covered call well that stock ownership you know does potentially provide dividends although they're not guaranteed [Music] when one sells a call against stocks that they own that generates some income thus reducing the net cost of that trade and it can give an opportunity for one to possibly continue to sell calls against that longer position well in the case of a long call diagonal we can do something very similar except instead of being long the stock being long an individual option whether a caller put in this case would be a call going out in a further duration uh maybe around 60 90 maybe even 120 days out so kind of simulate a an intermediate position over time likewise i'm buying that strike a little more in the money so it has a delta that may parallel more with stock movement and so you utilize that as a potential stock replacement strategy then what we'll do is we'll sell a shorter term option a call against it and it'll have a similar benefit it'll reduce the net cost of the trade it would potentially be positive with the passage of time that many long strategies do not have that benefit so again kind of simulating some of the characteristics of the cover call but having more of a defined risk because a long option typically is going to be less expensive in many cases much less expensive than owning the stock outright so less capital being tied up in that strategy those are some of the benefits as we go ahead and construct this uh you'll see that in application as well so let's go ahead and bring up on the thinkorswim platform denkar is with us been a long time client but new to the webcast welcome hopefully you're learning something new today very good uh let's go ahead and for an example today i was looking at uh best buy as we look at best buy by the way speaking of uh you know dividends i mean just doing you know research on again not a recommendation uh you know was surprised to see on a relatively higher yield on a stock such as best buy i believe they raised their dividend or payout those dividends are not guaranteed but can show you know potential interest in the stock when prices have actually have sold off and that also generates a potentially higher yield on the stock now we're not looking to utilize it in that example but you know let's say someone is bullish on it not necessarily strongly bullish but may believe the stock may stay in a range and and may have an upward bias but they don't necessarily want to own the stock you know 100 shares that would be 98 uh 98 hundred and fifty dollars i got that right well if we go ahead and go to the trade tab we can go ahead and construct this diagonal spread now for those of you that are very new to the strategy would certainly encourage you to go to the education tab and via that education tab you have the options area there once there make sure you go ahead and find the options for volatility course listed under all options content go ahead and look for courses once you're there you'll be able to go in that course get a breakdown of all the various strategies that are taught based off of volatility to include the diagonals we're talking about today and there's even a sample investing plan which i'll take the liberty to push out and we'll make reference to here let's go and push that out those are listen to the archive session you can go ahead and follow those instructions to bring that up and as we take a look for the objective for our long diagonal in this case a long call this would benefit from an increase in volatility although those who had joined us last week uh know that we have seen volatility being a bit elevated this may not be the more perfect time if there is such a time uh for uh being long options when volatility is still elevated but if the expectation is that volatility may remain elevated or possibly go higher uh this trade would not necessarily hurt and may even benefit from that we are looking at a limited risk and as we'll evaluate there should be multiple ways to profit with this example okay we're focusing on liquidity you know best buy is a more widely traded stock and it does say although as we've talked about volatility in the past ideally we like to see the volatility being the lower half of its 52-week range if i go ahead onto the thinkorswim platform on the trade tab as we've showed you in previous weeks and for those of you that have not attended this webcast go back and look at the archive for my webcast you can also you know google uh john mcnichol playlist long verticals and diagonals and be able to view all that content and actually uh surprisingly here in this example as we look at best buy and look at today's option statistics and surprising from the standpoint is that market volatility is generally relatively higher as a range as we look at volatility the percentile for best buy is in the 41 percentile which actually does put it in the lower half so we are meeting the goal for that example if one wanted to visualize that as far as volatility you know may oscillate over the course of a year what's implying is that best buys implied volatility is just in that lower half below that 50 percentile okay if i go to the chart and go to the flask or beaker and type in implied volatility you can get a visualization of that volatility on the chart implied volatility inp volatility apply and you know you can see as i kind of illustrated before we're kind of in that 41 percentile basically just in that lower half now there could still be a risk of volatility dropping which can have an impact on the trade we'll see what that potential impact is as we'll evaluate it but let's go ahead and go to the trade tab and select our strikes i think when i was looking at it before i was looking at a longer dated option in june and if we look at june notice that is 92 days out click on that and looking at a strike that is uh in the money in this case kind of around a 60 to a 70 delta we look at the 90 strike that is just shy of about a 70 delta so we're trying to simulate an example of a kind of a stock replacement strategy now if we go ahead and buy this uh that's twelve dollars and ninety five cents now that's times a hundred so if i click buy uh that's going to go ahead and be uh twelve hundred and ninety five dollars now one of the drawbacks with the strategy is if we were to right click and analyze talk about pros and cons you know a single option notice there is the kind of the simulation of that stock that diagonal line as far as potential gain the pro of an option too is we're putting up less capital so it's defined risk but the con with this one if we go ahead and look at the price uh is it does not benefit from the passage of time and so therefore if the price doesn't move this option will depreciate in this case the tune of about 3.65 cents a day and you know options can also still be expensive well is there a way of mitigating this and also reduce the overall cost of the trade well enter the diagonal so instead of just doing that one option let's go ahead and sell another option we'll minimize this we're going to go ahead and look at i think it was looking at one april before let's see here no 8 april so if we go to 8 april that's about 22 days so notice we're buying 92 days selling 22 buying longer dated selling shorter dated and if you need that as a reference uh once again on that sample plan that we pushed out to you you can see the long and short of it pun intended you know there's the long option example 60 to 120 days gives us opportunities possibly roll those options and generate more income we're looking at a delta of 60 to 70 to kind of simulate more of that stock movement and we go back let's go ahead and select that strike i'm going to click on that 8 april and let's go ahead and look somewhere between a 30 to 40 delta and that strike selection as we've learned in our advanced option strategies and also in this class you know the drivers for both the long vertical uh and the long diagonal revolves around that short strike in the case of the long vertical price trades up through or down through that short strike target in that that's where we realize our maximum gain uh in the case of that diagonal calendars is another one if the price comes near at or near that short strike at expiration that would result in a maximum gain for that period so that strike selection may be tied to the expectation on where you see the price being in the next 22 days in this case 102 would be basically about uh about three dollars above where we are right now so not a huge gain but kind of a limited game uh we're going to go ahead and sell this one so i'm going to hold the control key and i'm going to go ahead and click whoop let's get rid of my drawing tool hold ctrl key and click sell and there we go we went ahead and created that long diagonal now notice instantly what it did if you recall it was about 12 something previously so we reduced the net cost of this trade if i go to confirm and send you can also see that the cost of the trade is tied there plus transaction fees we'll also consider this to be our maximum loss at least over the nearer term now notice that significant difference than if we were to own 100 shares of the stock and obviously all the benefits of stock ownership but if we're just looking to potentially profit from the price movement as well as the passage of time then this could be a possibly more efficient way of doing that now notice break even max loss max gain unlike our vertical spreads there's nothing showing up that's why we have to go ahead and go to our uh analyze tab to go ahead and see where our potential is for this trade that's because we have different expirations because once this option expires we're left with a long option so the dynamics of that risk change also changes the volatility can impact the return as well so let's go ahead and edit that and we'll right click and do analyze trade now when you go to the analyze tab uh some of you may have noticed well we already were in here and it will accumulate any of these trades that you analyze so make sure you whether uncheck or delete the examples that you're looking at there and i think this was the more recent one here so we can delete some of these previous ones and so now we're looking at this diagonal and those characteristics have changed we do get a bit of a simulation of that long stock albeit it's still going to be a limited risk although it can be significant and we can see the maximum gain would be realized if we come close to that short strike 102. if the price goes higher it will still be profitable uh just may not be quite up to that uh profitability now based off of current volatility we're risking about 1089 uh looks like the maximum gain and i apologize i'm slightly colorblind which you know this is uh very depressing for an irishman that i can't clearly see the green uh over there i can see a blur of green but i can't pick up those numbers with that gray background that's my color perception issues that's why i'm not a fighter jet pilot i just get to jump out of them [Music] but it looks like uh guesstimating that's probably somewhere in the 325 range for that profit now that would be you know about a 25 30 percent uh return on risk probably pretty close to a 30 percent return on risk so for a what's referred to as a poor person's covered call that may not be a you know that may be a reasonable potential return over the next 20 days okay and someone said that i can click on the green date and change to color all right someone's my hero thank you so who was that that was vj so that just goes to show you folks that i've worked with think or swim since 2006 you will never stop learning about this application uh just shows you that flexibility there so vj gets a gold star thank you so much speaking of gold stars uh if you uh and not related just made me think about it there's a survey folks that is on the chat now we're not done yet we're going to place this trade and we're going to look at some of our existing positions but if you uh look on the chat uh you will see that there's a survey mr fairborn to push out a few times would love to get your feedback uh on this presentation for those of you that are listening to the archive session uh you can vote by clicking like uh that'll let me know you enjoyed it there's also a comment below if you want to provide some feedback on youtube and those you that are filling out that survey or will fill out the survey towards the end of the session uh you can click like as well all right so let's go back on that uh profile here and the idea here though is if volatility does rise it will push up the profitability range of this trade it's kind of like propping up the tent uh the other thing is with this trade we have a break even going into that short expiration and to set that you come right over here to the right next to the plus sign we'll click next to that set slices to break even set slices to break even we'll set it to that short strike expiration and there you go so there is 97.20 if i go to the chart assuming volatility stays the same um our breakeven is uh basically about a what a buck 60 below the current price okay a buck 60 below the current price so if the price stays exactly where it's at this could be a profitable trade minus any commissions if the price goes up to 102 that would potentially be a maximum gain if the price continues to go up it'll still be profitable and even if the price goes slightly down it could potentially be profitable uh minus any commissions there all right so let's go ahead and we'll put this one through and we'll manage this now position size as far as risk is consider the amount of contracts you buy does not exceed the amount you're willing to lose in the trade now if we were looking to lose about a thousand dollars one contract would be sufficient for this if i wanted to risk 2 000 uh we can go ahead and let's say for our illustrate purposes we'll do two contracts this is how much we're tying up in the trade and the risk on the trade that also should translate into possibly six hundred fifty some dollars uh potential gain if we trade to that short strike so i'm going to go ahead and click send we did get a fill on that and we'll continue managing that let's go ahead and follow along with our agenda here it would encourage you to look for a example as well uh think about a stock uh that if you were to own the stock uh you wouldn't mind owning over a period of time you know whether it's 60 90 days uh however uh look at an option as a replacement for this example on your paper money and then just like in the case of a covered call to sell uh a call against that option and that could be over a 20 to 30 day period again very similar in characteristics to how a covered call may work now let's talk about managing some of these positions and we'll do that in the process of reviewing some of our open practice positions now i was looking at the chat as well uh for instance bob says did you set a stop loss nope didn't do it in this case because the position size that we did is tied to our maximum loss we're willing to take that loss now if one is not willing to take that maximum loss based off of their position size one can possibly set a price alert and if the price goes below a certain level possibly go ahead and take action and close out that position however typically this trade does require low patience and all of our risk is tied at the opening of that trait okay uh let's go ahead and apply this to some of our existing strategies so in in your case uh bob as you're talking about you know let's say you know the line in the sand is right here around 94. that the price was a was

breaking below that support uh you know the reason for you being in the trade no longer applies well you can go ahead and you know right click create an alert and say hey if the price goes at or below whatever level you clicked on it you can go and make yourself a note be alerted to that uh if you want you can also do a conditional order to close out the trade although we don't do that in this trade we look at this as more of a hold we're basically looking to continue selling that premium over time okay let's go ahead and go back to the monitor tab we still have a few positions in here a lot of these came out of the advanced option strategies class but looking at the diagonals on managing them here's best buy that we just initiated uh looking at some of these from a p l perspective p l percent which can be added here over on the right by clicking on that gear uh cardinal health doing somewhat positive here if i click on that uh we may be looking to take some action because as we go ahead and bring up on the trading plan some of the exit strategies revolves around that short option is the short option in the money or is it out of the money well let's go and determine that first so let's go back and look at cardinal health we have a short strike of 55. the current price is at 56.45 so we are above that strike so that is in the money we are also eight days to expiration and that's kind of a time factor there as well so let's go ahead and take a look uh once again at that plan it says if the short option uh is in the money check to see if underlying conditions still meet your criteria if they do consider rolling the short option to the out of the money strike well let's see if it meets our criteria let's go and look at the chart since this is a limited risk bullish strategy we're probably looking for the stock to generally be uh going higher and it would have been nice uh if maybe not go up so much uh today but that's all right still positive uh with eight days you know 55s right here now price could possibly pull back to 55 and could be close to a maximum gain over this next week if we expect that the price may continue to go higher we may have an opportunity to roll to another strike let's evaluate that and see what that may be as far as rolling keep in mind folks rolling is nothing more than closing out one trade in this case buying back that short call to remove the obligation because remember an in the money call in this example would be subject to assignment at any time that's the risk and one can actually be called away the stock now if you don't have the stock that may end up in a short position on a margin account however remember you do have a long option uh to offset that but never to mind could be a bit of a hassle and so remove the obligation by closing it out now if we want to stay in this position we can also when we buy a back sell another shorter dated option to reduce the cost of the trade and possibly benefit again from the passage of time let's go ahead and see if we can do that and as far as the option that we select it's basically going to be the same type of duration and deltas on the original one 20 to 30 days 30 to 40 delta let's go ahead and go back to that and see if we can find one that's appropriate so we're still looking at cardinal health uh here's uh 20 days out let's say we go ahead and look for a 30 to 40 delta got a few of them in here that's interesting those deltas are about the same now since there is a large move in price movement we are seeing a bit of a skew here between the bid and the offer this can happen at times particularly with liquid options may have to see if we can put in a uh an ask somewhere in between just so we can do this for illustrated purposes may be able to get a buck 50 out of this let's say we go ahead and we look at the 59 so it'll be 8 april 59. i'm gonna come up here to cardinal health i'm going to right click on the short option right click create rolling order and when i select that by default it's going to buy back the 25 april 55s and then it's going to go right to the next expiration same strike and that's why i made note of i believe 8 april 59. we need to change

this we want to sell the 8 april 59 and if this results in a credit then we may consider doing that role now notice as i'm looking at it it doesn't result in a credit and let me make sure that i was looking at the right one yeah that was 59 or at that okay since it doesn't result in a credit uh that means the price is moving a little further in the money we may consider just closing out the entire trade now that may not be at a maximum gain but still a reasonable return on risk over the last i think week week and a half when we do this uh basically earlier this month about two weeks ago okay so if i want to close it out i can right click create close an order and just close out the entire position for that game and we'll send that through now another uh way of managing it is looking at it from a standpoint of time we are still benefiting from the passage of time so what some traders may do well what if the price goes ahead and backs off a little bit uh and even if it stays where it's at we may be able to pick up a little bit of a gain so i may actually sit sit on this one for a couple more days but nevertheless showed you on how you can go ahead and roll that let's go ahead and double check see if there's any uh additional questions there and we'll look at one or two more before we wrap up remember we do have the survey there folks and let's see ld had a question and i'm not sure what that question is uh let me see if i if you can repost that the monitor tab would need to have the p l open column added uh yeah yeah it looks like mike's got that there so uh if you're looking at customizing on your monitor tab right here over on the gear is where you can go ahead and bring up some of the different criteria such as the greeks usually p l open and p and all day are there by default but if you click on the gear next to that you can see a drop down here's your existing fields if you want to add something like p l percent or delta they should be listed over here on the side p l slash percent right there okay all right uh i think we have another example uh we talked about marvel last week uh this one's doing okay we actually did two put diagonals here kind of overlapped them if we go ahead and look at the chart for that notice we still got 15 days left and notice very positive theta this is the other benefit of this strategy benefit from the passage of time you can actually see that on the analyze tab as well notice the theta being positive if volatility rises this strategy will benefit as well let's go back so nothing to really manage we're still about 15 days out and there is that short strike we're at that's where the current price is as we look at our short strikes uh ideally uh we're like to see the price uh trade lower to that range and let's see if marvel from prices may have changed mr vl because looks like we benefited more from the passage of time and volatility dropping so volatility dropped benefited the trade passage of time benefited the trade price not as much but just like the rest of the market is this resistance if price goes ahead and drifts or trades back down that'll benefit the position on the long side now if we go into next week and price is actually doing a bullish reversal we may look to close out this trade since the reason for being in it no longer applies a put diagonal is more of a limited risk neutral to bearish strategy so nothing to see there for that uh last one let's see if we can do [Music] example here it looks like i lost my p l let's see if we can bring that up again p slash l percent get it up there we go um roku and nike were examples that we did in the advanced option strategies class uh they're both kind of a little flat one's a little more negative in the case of nike though we're eight days to expiration so here's another potential outcome uh currently the stock is at 124. the short option is 131. so this option is out of the money this option will expire worthless so if we go ahead and we take a look as far as on that strategy if we are coming up on expiration the option is out or if it's at the money if we're within 10 days which we are says consider rolling the option to the same strike if the option is far out of the money simply let the trade expire worthless and we basically be left with a long option uh let's go ahead and see if we can do a roll on this and we'll go to the trade tab for nike nke let's look at 22 days we'll look for a 30 to 40 delta if we're still a little more bullish we may lean towards the 135 if we're a little more neutral we may lean to the 130 let's look at the 130 we may be l cell 375 390 so 8 april 130 i'm going to go to that chart and notice it says 131 so we basically would be rolling down on this one a little bit which is okay let's see if we can get a credit we're going to go ahead and create roll and order and then we'll make sure that the one we're selling is 8 april and i think we said 130 and there is a 98 cent credit potentially 98 cent credit let's go and confirm and send and i'll make sure that gets filled and what we did is we rolled the option we'll maintain the long position and then sold additional premium so now as far as with the greeks we'll be able to have some more positive time to camp for some reason my greeks aren't showing up here i'll have to go ahead and modify that all right let's see if we accomplish what we intended to do folks by the way we'll have mike push out that survey one more time i would love to get your feedback and uh i've got a few things popping up as we're doing this uh i'd like to appreciate uh mike for helping out on the chat uh for those of you who want to learn more about the analyze tab uh continue joining us in these webcasts as well as look at the uh on the thinkorswim platform go to help nope not help education and when you're on education go to learning center now it's not loading up for me right now but this is all things think or swim there is uh links on the analyze tab as well as some videos and let me try that one more time so you can see it education learning center all things think or swimmer in here uh we also have some demonstrations uh with michael fairborn uh that goes over the platform and throughout these different webcasts uh we utilize this tool on an ongoing basis all right once again as i mentioned before earlier in the session consider practice of what you learned here today we did an example of a long call diagonal we also did example of rolling the options and managing those positions based off of some of those sample exit rules we'll continue to do this week after week as you can see there's still some positions there and we'll manage those to a game and then also if we don't have that gain then look to close those out closer to that expiration so there you go folks thank you so much appreciate the feedback from everyone vijay again you get the gold star monique everyone neil tony thank you so much seattle click out the survey and click like and remember in order to demonstrate the functionality of the platform we had to use actual symbols keep in mind td ameritrade does not make recommendations or term suitability of any security or strategy for individual traders any investment decision you make in your self-directed account is solely your responsibility have a great day folks i'm off to some military duty this weekend we'll see you bright and early monday morning take care bye now you

2022-03-20 08:49

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