Stock / Symbol: [private_monthly]Fifth Third Bancorp / FITB[/private_monthly]
Opening Option Strategy: diagonal call spread
Trade entry date: April 1
Price at trade entry: $14.04
Current Position:[private_monthly]
Long 4 FITB Nov11 10 Calls
at an effective cost of $2.91 per contract
[/private_monthly]
Adjustment: We're going to sell the Oct11 12 strike calls against our position to lower our cost basis in the trade.
Trade Adjustment Details:[private_monthly]
STO 4 FITB Oct11 12 Calls
for a net credit of $0.17 per contract
Max Risk: $1,096
Max Reward: ($260) @ 12 by Oct11 exp
Profit Range: NA
[/private_monthly]
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