✅ Take Profit Alert, Thur. 6/5 – TSM Bull Put Spread +74%
Locking in Gains as Momentum Stretches Higher
$TSM Bull Put Credit Spread
Trade Breakdown
Strategy: Bull Put Credit Spread
Position: Short 190P / Long 180P (Jun 27 expiry)
Net Credit Collected: $3.80
Max Profit Potential: $1,140
Current Profit: $849 (74.47% of max gain)
DTE: 22 days remaining
Why I'm Closing Now
This trade has done its job — and then some.
$TSM has pushed higher into overbought territory, with the RSI and Stochastics both flashing elevated readings. The technical trend is strong, but that also increases the odds of a cooling-off pullback.
Implied volatility has dropped, which means there's not much left in the tank for additional premium decay.
📌 I'm risking $849 in booked profit just to squeeze out another $291. That’s a poor risk-to-reward from here.
Don’t want to close yet? Set an Alert.
If you want to milk a little more, keep a tight leash. Set a price alert around $197–$198 (just under the 21 EMA).
Any break below that short-term trend support, and I’d exit immediately.
For me, I’ll take the solid win. Moving on!
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*Disclaimer: These trades reflect my own strategy and opinion, not financial advice.