Stock / Symbol: [private_monthly]Apache / APA [/private_monthly]
Original Option Strategy: diagonal call spread
Entry date: Jan 14th
Price at time of trade entry: $124.57
Price at time of this update: $128
Current Position:[private_monthly]
Long 1 APA Jul 125 Call for effective cost basis of $8.78 per contract
[/private_monthly]
Reasoning: With [private_monthly]APA[/private_monthly] up nicely today, we're going to close out the trade at break even. We looked at writing a near term call against our position but would prefer to just get out here and not risk their earnings announcement on Aug 4th.
Trade Details:
STC 1 APA Jul 125 Call
for a net credit of $8.80 per contract (GTC, limit order)
Max Risk: $878
Max Reward: unlimited
Profit / Loss upon fill: $2 (pre-commission)
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