Closing Trade : WPRT

Stock / Symbol: Westport Innovations Inc. / WPRT

Option Strategy: [private_monthly]iron condor[/private_monthly]
Trade entry date: May 8
Price at trade entry: $28.09
Price at this post: $24

Reasoning: WPRT hit the trade's downside breakeven point so we're going to close out the put portion of the trade to prevent a large loss. The call spread portion should expire worthless this Friday.[/private_monthly]

Closing Trade Details:

STC 7 WPRT May12 23 puts
BTC -7 WPRT May12 24 puts
for a net debit of $0.45 per contract (current bid $0.15 / ask $0.45) (GTC, limit order). If not filled by 3pm EST, up your bid price to the ask to ensure a fill.

Max Risk: $560
Max Reward: $140 or 25% by May 18
Profit Range: between $24 and $32 by May 18
Suggested Downside Stop @ $24
Suggested Upside Stop @ $32
Profit / Loss upon fill: ($175) (pre-commission)

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