Stock / Symbol: [private_monthly]Pan American Silver / PAAS [/private_monthly]
Option Strategy: diagonal call spread
Trade entry date: March 18th
Price at trade entry: $34.81
Price at this adjustment: $41.63
Adjustment: [private_monthly] PAAS[/private_monthly] has performed very well since we entered this trade... a bit too well. Just in case the stock continues higher from here, we're going to buy back the April 36 calls and sell the May 38 calls.
Trade Details:
[private_monthly]
BTC -2 PAAS Apr11 36 Calls
STO 2 PAAS May11 38 Calls
for a net debit of $1.00 per contract
[/private_monthly]
Max Risk: $1,140 (adjusted up from $950)
Max Reward: $325 or 28% by May expiration
Profit Range: $35.60 - $48.80 by May expiration
Max Profit at: $38
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