Stock / Symbol: Verifone / PAY
Price at trade opening: $34.77
Price at this adjustment: $40.21
Update: We didn't get filled on closing the spread so we just bought back the short Dec 37 strike call. We're now selling a Jan11 42 Call at $0.80
Closing Details:
BTC -1 PAY Dec10 37 Call
for a net debit of $3.30 per contract
then
STO -1 PAY Jan11 42 Call
for a net credit of $0.80 per contract
Option Strategy: diagonal call spread
Max Risk: $660 (adjusted)
Max Reward: $148 or 22% (at Jan expiration)
Profit Range: $40.06 + (at Jan expiration)
Max Profit at: $42
Chart:
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