Closing Trade : CRM butterfly call spread

Stock / Symbol: [private_monthly] / CRM [/private_monthly]

Option Strategy: butterfly call spread
Trade entry date: Nov 17
Price at trade entry: $125.80
Price at this post: $110.90

Reasoning: While we'd need to let this position expire worthless on Friday (with CRM either under $120 or over $130) to realized this trade's full yield, we're going to cover the short side of this position here to lock in our gain and protect against the stock rallying over $120 by week's end.

Trade Details:
BTC -2 CRM NovWk4 120 Calls
STC 2 CRM NovWk4 125 Calls
for a net debit of $0.25 per contract (GTC, limit order)

Max Risk: $900
Max Reward: $100 or 11% by Nov 25
Profit Range: $0 - $120 & $130 + by Nov 25
Realized Profit / Loss upon fill: $50 or 5.5% in 3 trading days (pre-commission)

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