Stock / Symbol: Johnson & Johnson / JNJ
Option Strategy: butterfly call spread + protective call
Trade entry date: Feb 7
Trade exit date: Feb 16
Price at trade entry: $65.35
Price at trade exit: $64.66
Update: We got filled on the butterfly portion of the trade first thing this morning at $2.00. We then closed out the long call at $1.86. However, it now looks like you can get filled at $2.05 on the butterfly.
Closing Trade Details : [private_monthly]
STC 2 JNJ Feb12 62.5 Calls
BTC -4 JNJ Feb12 65 Calls
STC 2 JNJ Feb12 67.5 Calls
for a net credit of $2.05 per contract (GTC, limit order)
then, once filled on the butterfly:
STC 1 JNJ Jul12 65 call
at the market bid (day order)
[/private_monthly]
Max Risk: $546
Profit Range: $64.42 – 66.00 (Feb 17)
Max Profit: $125 or 23% @ $65 by Feb 17
Suggested Downside Stop: @ $63.95
Realized profit / loss: $42 or 7.7% (pre-commission)
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