Stock / Symbol: [private_monthly]United States Oil Fund / USO[/private_monthly]
Option Strategy: diagonal call spread
Price at trade entry: $31.24
Price at this adjustment: $32.07
Adjustment: With our short 31 strike calls ITM, we're going to roll them over to next Friday's expiration options.
Trade Details:[private_monthly]
BTC 1 USO OctWk1 31 Call
STO 1 USO OctWk2 31 Call
for a net credit of $0.40 per contract (GTC, limit order)
[/private_monthly]
Max Risk: $529 (adjusted down from $555)
Profit Range: $29.85 - $38 by Oct 14
Max Reward: $85 or 16.0% @ 31 by Oct 14
Suggested downside stop @: $30
Suggested upside stop @: $34.50
Non-members, click here for access
Speak Your Mind