vertical trade help -BBRY

C

crayon851

Hey guys, I recently put this trade on.

BBRY @ $10.50. at the time
A)-4 BBRY call 10.00 Mar 21 @ $110 = 440
B)+4 BBRY call 9.00 Mar 21 @$181 = 724

today BBRY went sub $10. and I'm not willing to see if it goes back up. So what i did was, i rolled down the position to,

C) -4 BBRY call 9.00 Mar 21 @ $130 = 520
D) +4 BBRY call 8.00 Mar 21 @$220 = 880

From my calculations, it seems that if at expiration, its still trading above 9.10, then I've broken even. Can someone confirm this?

my calculations are as follows:

A) Closed at $77= + $132 (after commissions)
B) Closed at 130= - 204 (208 with commissions)
= net loss of $-76

New position CD at expiration,
C) $+520
D) $- 880
Total net from ABCD= $-76 + -$360
= $-436
At expiration, if BBRY is at 9.01
-436 + 400. = -36.
Net loss of $36. vs $76.
 
Not double down. You assured a loss on the trade. A vertical is already limited on risk, you can close it if you are wrong, which you did.....you just can't save it. I'm a bit more conservative...would have just sold the 7 or 8 put ( if bullish) then kept rolling out until right.
 
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