Closing Trade – remaining leg of diagonal call spread

Stock / Symbol: Altria / MO
Option Strategy: diagonal call spread adjustment
Date of trade open: March 3rd
Price at trade entry: $25.40
Price at trade exit: $25.95

Max Risk: $48
Max Reward: unlimited
Realized Reward: $68 or 141%

Details: With Altria up nicely today, we closed out the call we added to the original diagonal call spread for upside protection. On the original portion of the trade, we captured a 24% return. This final leg gives us an additional $68 of profit on the trade.

Trade Details:

STC -4 MO Apr11 26 Calls
for a net credit of $0.29 per contract

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