Trade Adjustment : diagonal call spread

Stock / Symbol: [private_monthly]United States Oil Fund / USO[/private_monthly]
Option Strategy: diagonal call spread
Trade entry date: Sep 30
Price at trade entry: $31.24
Price at this adjustment: $33.43

Adjustment: With our short 31 strike calls ITM, we're going to roll them over to Nov 32 strike calls.

Trade Details:[private_monthly]

BTC 1 USO OctWk2 31 Call
STO 1 USO Nov 32 Call
for a net credit of $0.14 per contract (GTC, limit order)
[/private_monthly]

Max Risk: $515 (adjusted down from $529)
Profit Range: $30.40 + by Nov 18
Max Reward: $134 or 26.0% @ 32 by Nov 18
Suggested downside stop @: $30
Suggested upside stop @: NA

Non-members, click here for access

Speak Your Mind

*