Moderna (MRNA) is up more than 15% today on relatively unimportant news — the provisional authorization of the company’s COVID-19 vaccine in Australia. This indicates today’s trading is a massive short squeeze.
Let’s cash in by closing our spread and avoid being called out. We will likely enter another MRNA spread position soon.
Current Stock Price: $481.24
Cost Basis: $99.45
- Buy to close the MRNA Aug Week Two (8/13) 425 Call for around $58.40
- Sell to close the MRNA Sept 2022 (9/16/22) 400 Call for around $164
Profit: $6.15, or $615 per spread