Stock Symbol: [private_monthly]ADBE[/private_monthly]
Option Strategy: Call Back Spread
Max Risk (Adjusted): $15
Max Gain: Unlimited
Profit Range: $28 +
Break Even at Expiration: $28.30
Reasoning: [private_monthly]Adobe - ADBE[/private_monthly] has moved up high enough that we can close out the 4 short calls + 7 of the long calls for a slight profit. We'll let the remaining long call ride to see if we can benefit from additional moves higher.
Trade Details:
[private_monthly]
STC 7 ADBE NOV 28 CALL @ $1.27 $887
BTC -4 ADBE NOV 27 CALL @ $1.70 ($680)
Requirements:
Cost/Proceeds: $207 - Net Credit
Gain/Loss: $15
Est Commission: $15
[/private_monthly]
Chart:
[private_monthly]
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