Stock / Symbol: [private_monthly]Las Vegas Sands / LVS[/private_monthly]
Option Strategy: calendar call spread
Price at time of trade entry: $50.81
Price at this adjustment: $47.39
Adjustment: The Dec 52.5 call we sold expired worthless, bringing our cost basis down to $3.20. We're now going to sell the Jan 52.50 call here to further lower our cost basis in the trade. Max profit is 31% with [private_monthly]LVS[/private_monthly] closing at $52.50 on January 21st.
Current Position:[private_monthly]
Long 2 LVS Mar11 52.5 Calls @ $6.10
[/private_monthly]
Trade Details:[private_monthly]
Sell -2 LVS Jan 52.5 Calls @ $0.80
[/private_monthly]
Max Risk: $480 (adjusted, was $636)
Max Reward: $153.40 (at Jan expiration)
Max Called Return: 31%
Uncalled Return: 25%
Profit Range: $49.11 - 56.62 ( at Jan expiration)
Max Profit at: $52.50
Chart:[private_monthly]
Flash Player 9 or higher is required to view the chart Click here to download Flash Player now
[/private_monthly]
Non-members, click here for access
Speak Your Mind