Closing Trade : HAL diagonal call spread

Stock / Symbol: Halliburton / HAL

Option Strategy: diagonal call spread
Trade entry date: Nov 8
Price at trade entry: $38.26
Price at this post: $38.80

Reasoning: Even though HAL is essentially unchanged since entering the trade, our position is currently up about 10%. With HAL looking likely to finish near $39 by this Friday, and being short the Nov exp 39 calls, we're going to enter our sell order here. If we get our fill price, we'll book a 12% profit in less than 2 weeks time.

If our closing order is not filled, and if HAL remains under $39, we'll look to sell some weekly calls on Monday.

Trade Details:
STC 1 HAL Apr12 30 call
BTC -1 HAL Nov11 39 call
for a net credit of $10.45 per contract (GTC, limit order)

Max Risk: $928
Max Profit: @ $150 or 16% @ $39 by Nov exp
Profit Range: $37.50 - $48 by Nov exp
Uncalled Return: 8.8%
Realized Profit / Loss upon fill: $117 or 12% (pre-commission)

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