Closing Trade – ADBE call back spread

Stock Symbol: ADBE

Original Option Strategy: Call Back Spread

Max Risk (Adjusted): $15
Gain on remaining long call: 30%
Overall Gain on Trade: 83%

Reasoning: On Oct 12, we closed out the 4 short calls + 7 of the long calls for a slight profit. We let the remaining long call ride to see if we can benefit from additional moves higher. At this point, we're running out of time on the 28 strike call which expires on Nov 19th.

Trade Details:

STC 1 ADBE NOV 28 CALL @ $1.02 $102

Proceeds: $102
Est Commission: $12.95

Original Trade Cost: $168
Proceeds from Oct 12 trade: $205.50
Net Proceeds: $307.50
Gross Gain/Loss: $139 / 83%
Net Gain/Loss after commissions: $99.02 / 59%


Non-members, click here for access

Speak Your Mind