Weekly Bear Call Spread on Micron Technology (MU) — Alpaca Paper Account P&L, Risk Metrics & Trade Analytics


● Paper Trading  |  ⚪ Neutral / Net-Credit  |  📅 Intraday Only

📡 Strategy Overview

This strategy runs a weekly Bear Call Spread on MU (Micron Technology) via the Alpaca paper-trading API. The spread is a net-credit, defined-risk options strategy with a bearish directional bias. Premium is collected up-front; the trade is profitable if MU stays below the short strike at expiry.

The spread is opened every Monday morning (9:40 ET) and closed every Thursday afternoon (15:45 ET), targeting the following Friday's weekly expiry. Because the Np2 account runs multiple strategies on different underlyings, all performance metrics on this page are computed exclusively from MU option legs (OCC symbols matching MU[date][CP][strike]).

Spread Construction

Position Side Strike Premium
Short call Sell to open price × 1.02 → nearest $5 COLLECT (lower strike)
Long call Buy to open price × 1.05 → nearest $5 PAY (higher strike / hedge)
Net Credit sell premium − buy premium

⚠️ Options Permission Requirements (Alpaca)

This strategy requires Level 3 (Spreads) options approval on each Alpaca account. Level 3 allows multi-leg defined-risk spreads (iron butterflies, iron condors, verticals, etc.). Accounts must also be margin-enabled.

Apply via: Alpaca Dashboard → Account → Trading → Options Trading → Level 3.