The Portfolio Armor Substack

The Portfolio Armor Substack

Order Text

Entry Order Text — Revised 2:1 Call Ratio

Portfolio Armor's avatar
Portfolio Armor
Aug 25, 2026
∙ Paid

Buy four 2:1 call-ratio units consisting of these two legs:

  1. Buy 8 SANA January 21st, 2028 $5 calls,

  2. Sell 4 SANA January 21st, 2028 $10 calls.

At a maximum net debit of $2.00 per unit, or $8.00 total ($800) for the full 8-by-4 order.

Submit this as a single complex day order. If your broker quotes the full 8-by-4 package, enter $8.00 as the maximum total net…

Keep reading with a 7-day free trial

Subscribe to The Portfolio Armor Substack to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2026 Portfolio Armor · Privacy ∙ Terms ∙ Collection notice
Start your SubstackGet the app
Substack is the home for great culture