Trade Adjustment

Stock / Symbol: [private_monthly]Fifth Third Bancorp / FITB[/private_monthly]

Opening Option Strategy: diagonal call spread
Trade entry date: April 1
Price at trade post: $14.04

Current Position:[private_monthly]
Long 4 FITB Nov11 13 Calls
at an effective cost of $1.94 per contract
Adjustment: We're going to roll our 13 strike calls into 10 strike calls. Then, when it looks like the stock is trading near the high end of its range, we'll look to sell some near term calls against the position.

New Trade: For those of you not currently in the trade, you can purchase the long Nov11 10 strike calls here.

Trade Adjustment Details:[private_monthly]

STC 4 FITB Nov11 13 Calls
BTO 4 FTIB Nov11 10 Calls
for a net debit of $0.97 per contract (GTC, limit order)

Max Risk: $1,164 (adjusted up from $774)
Max Reward: unlimited
Profit Range: $12.90 + by Nov expiration

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