Stock / Symbol: [private_monthly]Las Vegas Sands / LVS [/private_monthly]
Option Strategy: calendar call spread
Date trade entered: Nov 4, 2010
Price at trade entry: $50.81
Price at this adjustment: $47.89
Current PosItion:
[private_monthly]
Long 2 LVS Sep 52.50 Calls
at an effective cost of $3.28 per contract
[/private_monthly]
Adjustment: We're very encouraged by this stocks recent move up and their positive earnings report earlier this week. We're going to sell the Aug 52.50 calls here in case [private_monthly]LVS[/private_monthly] pulls back in the interim with the overall market.
Trade Details:
[private_monthly]
STO -2 LVS Aug11 52.5 Calls
for a net credit of $0.32 per contract (day order, limit order)
[/private_monthly]
Max Risk: $592 (adjusted down from $656)
Max Reward: ($143.80) by Aug 2011 expiration
Uncalled Return: 9.76%
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