Stock / Symbol: Solar City Corp / SCTY
Option Strategy: [private_monthly]calendar call spread / diagonal call spread[/private_monthly];
Trade entry date / price: 7 Nov / $51.30;
Price at this post: $52.53;
Current Position:
Long 1 SCTY Jan16 60 call
for an effective net debit of $6.30 per contract
Adjustment: Time to sell another another short call against our position. After selling this latest call, we will have lowered our cost basis on the trade by 28%. After this adjustment, the Greeks will be: 5.1 delta, 7.3 theta, and 17.4 vega.
Trade Adjustment Details:
[private_monthly]
STO -1 SCTY Feb16 60 call
for a min net credit of $0.70 per contract. The mid is currently at $0.72 (GTC order, limit order).
[/private_monthly]
Max Risk: $570 (adjusted down from $630)
Max Reward: $300 or 53% @ [private_monthly]60 [/private_monthly]by 20 Feb
Profit Range: between $54 and $69 by 20 Feb
Suggested Downside Stop: NA
Suggested Upside Stop: $64
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