Closing Trade : K

Stock / Symbol: Kellog / K

Option Strategy: diagonal call spread
Trade entry date: Jan 6
Price at trade entry: $50.39
Price at this post: $52.82

Reasoning: Bolstered by it's announced purchase of Pringles, K is up nearly 5% today, giving us an opportunity to close the position for a nice gain. If we get our ask price, we'll make just under 15% on this trade. As it may take until Friday to get filled, we're using a GTC order.

Closing Trade Details : [private_monthly]
STC 3 K Jun12 47.50 calls
BTC -3 K Feb12 52.50 calls
for a net credit of $4.85 per contract (GTC, limit order)

Max Risk: $1,274
Profit Range: $51.60 + (Feb 17)
Max Profit: $250 or 19% @ $52.50
Realized profit / loss upon fill: $190 or 14.9%

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