Ticker: SMH
Price: $159.70
Date: 7/28/23 2:00 PM EST
Underlying: Vaneck Semiconductor ETF

Est. Net Credit/Debit: $1,750 debit

Master Portfolio Contracts: 10

Notes: We are adding a double diagonal/calendar to the existing SMH butterfly to expand the profit zone. Expect to close this early next week and reset.

TRADE ACTION 1: Open a SMH double diagonal for a net debit of around 1.65 to 1.80 

BTO (10) SMH 11 AUG 162 call
BTO (10) SMH 11 AUG 158 put
STO (10) SMH 4 AUG 162 call

STO (10) SMH 4 AUG 158 put

POSITION AFTER TRADE DETAIL:

+ (10) SMH 4 AUG 155 put
– (20) SMH 4 AUG 150 put
+ (10) SMH 4 AUG 142 put

+ (10) SMH 11 AUG 162 call

+ (10) SMH 11 AUG 158 put

– (10) SMH 4 AUG 162 call

– (10) SMH 4 Aug 158 put