[Closing Calendar Spread on CREE/Buy Aug 20 calls (CQRHD) and sell Dec 20 calls (CQRLD) to close/day limit order net credit of $1.35]
Dear Member,
The calendar spread on CREE has worked fairly well. I often like to stay until expiration of the near term option, but in this case, CREE has been uptrending in a market that isn't. Since it is nearing the upper breakeven level, I am going to exit with my profit if I can get filled at a net credit of $1.35. If filled, it will represent a 12.5% PROFIT BEFORE COMMISSIONS IN JUST 3 WEEKS!. I am buying to close the Aug 20 calls (CQRHD) and selling to close the Dec 20 calls (CQRLD) for a net credit of $1.35
DISCLOSURE: At the time of publication, I am short the Aug 20 calls (CQRHD) on CREE and long the Dec 20 calls (CQRHD) on CREE.
Sincerely,
Bill Kraft
CutLoss, Inc.
|
