Stock Symbol: GLW
Price at Trade Entry: $18.60
Option Strategy: covered call + call spread
Update: Time to close out this trade and take profits.
Current Positions:
100 shares GLW @ $17.66
-1 OCT 18 call option @ $0.34
1 NOV 16 CALL @ $1.33
-1 OCT 18 CALL @ $0.34
Current gain/loss: $143
Current gain/loss %: 8.10%
Closing Trade Details:
For the covered call, allow the short strike call to be exercised. This will sell your 100 shares of GLW at $18.00. Factoring in the $0.34 taken in from the sale of the 18 strike call, the effective sale price is $18.34. That's a profit of $68 or 3.85%
+
STC 1 NOV 16 CALL @ $2.80
BTC -1 OCT 18 CALL @ $0.73
for a net credit of $2.03 (a 105% gain!)
Chart:
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