Trade Adjustment : CSCO

Stock / Symbol: [private_monthly]Cisco Systems / CSCO[/private_monthly]

Option Strategy: calendar call spread
Trade entry date: Jul 6
Price at trade entry: $16.70
Price at Jul 12 adjustment: $16.00
Price at Aug 6 adjustment: $16.76
Price at this adjustment: $17.45

Current Position:[private_monthly]
Short -6 CSCO Aug12 17 calls
Long 8 CSCO Oct12 17 calls
+
Short -6 CSCO Aug12 16 calls
Long 6 CSCO Oct12 16 calls
+
Short -6 CSCO Aug12 15 calls
Long 6 CSCO Oct12 15 calls

[/private_monthly]

Reasoning: With CSCO reporting earnings this afternoon, we're going to buy back[private_monthly] one more of our short Aug12 17 calls. This adjustment will allow us to weather a pop up in the stock and still keep our downside break-even under 15, should the stock get hammered following this earnings announcement.[/private_monthly]

Trade Adjustment Details:[private_monthly]

BTC -1 CSCO Aug12 17 call
at the market

[/private_monthly]

Max Risk: $745
Max Reward: $270 or 36% at $16 by Aug 17
Profit Range: $14.90 + by Aug 17
Suggested upside stop: @ NA (was 18)
Suggested downside stop: @ 14.30