Closing Trade : EGO

Stock / Symbol: Eldorado Gold Corp / EGO

Option Strategy: [private_monthly]diagonal call spread[/private_monthly]
Trade entry date: Feb 17
Price at trade entry: $13.43
Price at this post: $14.90

Reasoning: We entered this trade expecting a max return of 7% in a month's time but we're already up about 5%. So, with earnings due out tomorrow morning, we're going to see if we can close out the trade here for nice profit in under a week. $5.65 per contact is the mid of the spread, so we may or may not get filled. If you want to increase your chances of getting filled, sell at $5.60. If we don't get filled today, we'll allow the trade to continue on.

Closing Trade Details : [private_monthly]

STC 3 EGO Jan13 7.5 Calls
BTC -3 EGO Mar12 13 Calls
for a net credit of $5.65 per contract (day order, limit order)

Max Risk: $1,605
Profit Range: $12.55 + (Mar 16)
Max Profit: $150 or 9.3% @ $13 by Mar 16
Suggested Stop: @ $11.64
Realized profit / loss upon fill: $90 or 5.6% (pre-commission)

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