Trade Adjustment : JNJ

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: $64.70

Current Position:[private_monthly]

long 5 JNJ Jul12 65 Calls
short -5 JNJ MayWk2 65 Calls
at an effective cost of $1.58 per contract
+
long 4 JNJ Jul12 62.5 Calls
at a cost of $2.40 per contract
[/private_monthly]

Adjustment: Took in an uncalled return of 7% this week by selling the 65 strike calls last week. We're now rolling the short 65 calls to next week + selling two additional 65 calls. If you have the free capital in your account, you could just let this week's short calls expire worthless and write next week's calls. Adjusting suggested stop to 64.35 [/private_monthly]

Trade Adjustment Details:[private_monthly]

BTC -5 JNJ MayWk2 65 Calls
for a max net debit of $0.03 per contract (day order, limit order)
then,
STO -7 JNJ May12 65 Calls
(market order)
[/private_monthly]

Max Risk: $1,575 (adjusted down from $1725)
Max Reward: unlimited by May 18
Profit Range: @ $65 and $67.3 + on May 18
Suggested downside stop: $64.35

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