Closing Trade : MSFT

Stock / Symbol: Microsoft / MSFT

Option Strategy: [private_monthly]calendar call spread[/private_monthly]
Trade entry date: Dec 23
Price at trade entry: $25.97
Price at this post: $29.95

Current Position:[private_monthly]
Long 10 MSFT Mar12 29 Calls
Short - 10 MSFT FebWk4 29 Calls
at an effective cost basis of $0.72 per contract
[/private_monthly]

Reasoning: [private_monthly]
With MSFT trading at $29 on Monday, it was looking like we'd end up salvaging this trade. However, with MSFT once again pushing $30, it's time we admit defeat and move on to a new trade on MSFT some other day. We'll need a slight pullback on the stock to get filled, so we're using a Good Til Cancelled order. [/private_monthly]

Closing Details:
[private_monthly]
STC 10 MSFT Mar12 29 Calls
BTC -10 MSFT FebWk1 29 Calls
for a net credit of $0.28 per contract (GTC, limit order)
[/private_monthly]

Risk analysis:
Max Risk: $720
Max Reward: ($85) or -12% @ $29 by Feb 3
Profit Range: NA
Profit / Loss Upon Fill: ($440) or 61% (pre-commission)