Trade Adjustment – Combo Trade

Stock Symbol: [private_monthly]GLW[/private_monthly]

Option Strategy: Combo (short put / long call)

Update: Time to turn this trade into a covered call. As our cost basis for our 100 shares of [private_monthly]Corning - GLW[/private_monthly] is $17.70, we're going to sell the 18 strike near month call.

Trade Details:

STO -1 Oct 18 call option for $0.40

We also hold a call spread with this position:

1 NOV 16 CALL for $1.33
-1 OCT 18 CALL for $0.28
for a net debit of: $1.05
Current value of this spread is: $1.63 (up 55%)

Factoring in the call spread, our adjusted cost basis in [private_monthly]GLW[/private_monthly] is $17.12.



Non-members, click here for accesscst

Speak Your Mind