Stock / Symbol: Johnson & Johnson / JNJ
Trade entry date: Oct 5
Price at trade entry: $62.40
Option Strategy: long calls to protect calendar position
Current Position: [private_monthly]
Long 2 JNJ Apr12 60 Calls
at a cost basis of $6.40 per contract
[/private_monthly]
Reasoning: With JNJ trading up today, we can close this position down for a small loss, and still net a gain when factoring in the JNJ calendar spread; which is the position we used these long calls to protect.
Trade Details :
STC 2 JNJ Apr12 60 Calls
for a net credit of $6.00 per contract (GTC, limit order)
Profit/Loss upon fill: ($80)
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