Stock / Symbol: Johnson & Johnson / JNJ
Option Strategy: [private_monthly] calendar call spread + long calls[/private_monthly]
Trade entry date: Mar 19
Price at trade entry: $65.17
Price at this adjustment: $64.90
Current Position:[private_monthly]
long 5 JNJ Jul12 65 Calls
short -5 JNJ MayWk1 65 Calls
at an effective cost of $1.77 per contract (includes realized loss of $0.24 per contract on previously closed legs)
+
long 4 JNJ Jul12 62.5 Calls
at a cost of $2.40 per contract
[/private_monthly]
Adjustment: We're rolling the short 65 calls to next week. Took in an uncalled return of 4% in a week by selling the 65 strike calls last week. Please note that we're upping our stop from $64 to $64.45. [/private_monthly]
Trade Adjustment Details:[private_monthly]
BTC -5 JNJ MayWk1 65 Calls
STO -5 JNJ MayWk2 65 Calls
for a net credit of $0.26 per contract (day order, limit order)
IMPORTANT: if not filled by 3pm EST, adjust your bid price down to the market bid to ensure a fill.
[/private_monthly]
Max Risk: $1,725 (adjusted down from $2000)
Max Reward: unlimited by May 11
Profit Range: @ $65.90 + on May 11
Suggested downside stop: $64.45
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