Closing Trade – CMG call ratio backspread

Stock / Symbol: Chipotle Mexican Grill / CMG
Price at trade entry: $255.74

Option Strategy: call ratio back spread

Reasoning: While we did get a nice pop on CMG, it wasn't quite enough. We're closing the trade here for a small loss

Trade Details:

BTC -1 CMG Mar11 250 Call
STC 2 CMG Mar11 270 Calls
for a net debit of $1.20 per contract

Realized Loss: $55 (before commissions)
Max Risk: $1,950 (at Mar expiration)
Max Reward: unlimited
Profit Range: $0 - $250 & $290 + (at Mar expiration)
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