Stock / Symbol: [private_monthly]American Express / AXP [/private_monthly]
Option Strategy: calendar call spread w/ protective call
Trade entry date: Aug 15th
Price at trade entry: $45.87
Price at this post: $45
Current Position:
[private_monthly]
Long 2 AXP Jan12 45 Calls
Long 2 AXP Jan12 55 Calls
for an effective cost of $4.23 per contract
[/private_monthly]
Adjustment / New Trade: We're going to write the AugWk4 45 strike calls.
For those of you not currently in this trade, this is also a good entry point. See Trade Entry Details below
Open Trade Order:
[private_monthly]
STO 2 AXP AugWk4 45 (exp 8/26) Calls
for a credit of $0.95 per contract
[/private_monthly]
New Trade Details:
[private_monthly]
BTO 2 AXP Jan12 45 Calls
STO 2 AXP AugWk4 45 (exp 8/26) Calls
BTO 2 AXP Jan12 55 Calls
for a net debit of $4.45 per contract
[/private_monthly]
Max Risk: $990
Max Reward: $167 or 16.8% by Aug 26th
Profit Range: $43.80 +
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