Option Millionaires

[Fire]

Trying a CHK call backspread. This morning sold one $17 WC, used that money to buy two $18 WC. No entry cost. If price goes up a lot, the two 18 calls make more than the one 17 short call loses. If the price tanks below 17, all expire worthless. Max loss is $100 if the PPS ends the week at exactly $18. Breakeven to the upside is $19.