Closing Trade : JNJ calls

Stock / Symbol: Johnson & Johnson / JNJ

Trade entry date: Oct 5
Price at trade entry: $62.40
Option Strategy: long calls to protect calendar position

Current Position: [private_monthly]
Long 2 JNJ Apr12 60 Calls
at a cost basis of $6.40 per contract

Reasoning: With JNJ trading up today, we can close this position down for a small loss, and still net a gain when factoring in the JNJ calendar spread; which is the position we used these long calls to protect.

Trade Details :
STC 2 JNJ Apr12 60 Calls
for a net credit of $6.00 per contract (GTC, limit order)

Profit/Loss upon fill: ($80)

Speak Your Mind