Closing Trade: WMT diagonal call spread

Stock / Symbol: Walmart / WMT

Option Strategy: diagonal call spread
Date of trade entry: May 26
Price at trade entry: $54.61
Price at this post: $57.05

Current Position:
Long 1 WMT Jan12 50 Call
Short -1 WMT OctWk4 52.5 Call
at an effective cost basis of $5.37 per contract

Reasoning: When we last adjusted this trade, we mentioned that If we didn't get a pullback by this Friday, we'd close this portion of the trade and configure a new position in the name. So, we're closing this portion of the trade here.

Trade Adjustment Details:

STC 1 WMT Jan12 50 Call
BTC -1 WMT OctWk4 52.5 Call
for a net credit of $2.75 per contract (day order, limit order)

Max Risk: $537
Max Reward: ($170) at $52.50 by Oct 28
Profit / Loss upon fill: ($262)


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