Position Update : FCX

Stock / Symbol: Freeport-McMoran / FCX
Option Strategy: calendar call spread w/ protective call

Update:[private_monthly] Our short DecWk2 40 calls expire tomorrow. If FCX is at or above $40 by the end of the day tomorrow, we'll close out the entire position for a profit. If not, we'll look to either roll the DecWk2 calls to Dec11 40 strike calls or allow the DecWk2 40's to expire worthless and sell the Dec11 40 calls on Monday.
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