Trade Adjustment : K

Stock / Symbol: Kellog / K

Option Strategy: [private_monthly]diagonal call spread[/private_monthly]
Trade entry date: Jan 6
Price at trade entry: $50.39
Price at this post: $51.34

Current Position : [private_monthly]
Long 3 K Jun12 47.5 Calls
Short -2 K Jan12 50 Calls
at an effective cost of $4.54 per long contract
[/private_monthly]

Adjustment:[private_monthly] With our short calls ITM, we're going to roll them to the Feb 52.50 calls + sell one additional Feb 52.50 call. This adjustment morphs the trade back to a calendar spread and gives us a potential return of 19% With K trading at or over $52.50 by Feb 17. [/private_monthly]

Trade Details : [private_monthly]
BTC -2 K Jan12 50 calls
for a debit of $1.30 per contract (day order, limit order)
then,
STO -3 K Feb12 52.50 calls
for a credit of $0.45 per contract (day order, limit order)
[/private_monthly]

Max Risk: $1,300
Profit Range: $52.50 + (Jan 20)
Max Profit: $250 or 19% @ $52.50