As I was making my kids’ lunches before school this morning, I received a notification that our GOOGL trade closed for an 80% profit. What a way to start the day!
That’s the beauty of setting up good-til-canceled (GTC) orders with your profit target. You don’t have to stare at a computer and manually close your trade at the right moment. Once your trade hits your profit target, your trading platform will attempt to close it for you.
That’s what happened today. After just 4 days, our GOOGL bull call spread closed for an 80% profit…a week earlier than we were hoping!
You can read my chat announcement here and the opening trade alert here.
This is another big winner in in our Challenge Portfolio! The full closing details are below.
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Closing trade details:
Bull Call Spread Option—Alphabet Inc. (GOOGL)
Bull call spread option (this means that we wanted the underlying stock to rise).
Stock price when I opened the trade: $143.52.
Stock price when I closed the trade: $146.64.
Premium paid to open trade: $50.
Proceeds collected when closing trade: $90.
Result: 80% gain in less than 24 hours!
Congrats on another winner!
Jason Milton
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