Stock / Symbol: Halliburton / HAL
Option Strategy: diagonal call spread
Trade entry date: Nov 8
Price at trade entry: $38.26
Price at this post: $36.45
Current Position:
[private_monthly]
Long 1 HAL Apr12 30 call
at an effective cost of $9.20 per contract
Adjustment: We're selling a Dec11 call against our position to lower our cost basis and put us in a position to close this trade out with HAL trading at or over $37.50 by Dec 16th.
Adjustment Details:
[private_monthly]
STO -1 HAL Dec11 38 call
for a net credit of $0.75 per contract (GTC, limit order)
Max Risk: $860 (adjusted down from $928)
Max Profit: @ $110 or 12.8% @ $38 by Dec 16
Profit Range: $36.70 - $46 by Dec 16
Uncalled Return: 8.2%
[/private_monthly]
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