Stock / Symbol: Eldorado Gold Corp / EGO
Option Strategy: [private_monthly]diagonal call spread[/private_monthly]
Trade entry date: Feb 17
Price at trade entry: $13.43
Price at this post: $15.25
Adjustment: Our closing order wasn't filled last week and one of our short calls was exercised today. We're going to buy back the 100 shares of EGO we're now short and close out one of our long calls here. Then, we're going to re-enter our closing order at $5.65 per contract for our remaining position. Obviously, if your short calls were not exercised, you won't be buying back any shares here.
[private_monthly]
Closing portion due to call exercise :
BTC 100 EGO shares
then,
STC 1 EGO Jan13 7.5 call
(close at best price)
[/private_monthly]
Closing Order (to close remaining position):[private_monthly]
STC 2 EGO Jan13 7.5 Calls
BTC -2 EGO Mar12 13 Calls
for a net credit of $5.65 per contract (GTC, limit order)
[/private_monthly]
Max Risk: $1,605
Profit Range: $12.55 + (Mar 16)
Max Profit: $150 or 9.3% @ $13 by Mar 16
Suggested Stop: @ $11.64
Realized profit / loss upon fill: $90 or 5.6% (pre-commission)
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