closing trade : ZNGA

Stock / Symbol: ZYNGA Inc / ZNGA

Option Strategy: [private_monthly]strangle[/private_monthly]
Trade entry date: Feb 13
Price at trade entry: $13.52

Reasoning: Thanks to a decent move in the stock + an increase in volatility, we're already up 8% on the trade. We're going to attempt to close out the trade now and lock in a nice, quick gain. We're using a day order, so that if we don't get filled at our price today, we have a chance of closing the trade for more tomorrow in the event of a big earnings move.

Trade Details:[private_monthly]
STC 2 ZNGA Mar12 14 calls
STC 2 ZNGA Mar12 13 puts
for a net credit of $3.35 per contract (day order, limit order)

Max Risk: $610
Max Reward: unlimited
Profit Range: $0 - $10 & $17 + by Mar 16
Suggested Stop @: $13.50 (after earnings announcement on 2/14)
Profit / loss upon fill: $60 or 9.8% (pre-commission)

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