[Opening Bearish Call Spread on Chicago Merchantile Exchange (CME)/Simultaneously Selling May 200 Calls (CMJET) and Buying May 210 Calls (CMJEB)/Day Order/Net Credit $1.20]
Dear Member,
I am placing an order to open a bearish call spread on the Chicago Merchantile Exchange (CME) simultaneously selling the May 200 calls (CMJET) $1.40 x $1.60 and buying the May 210 calls (CMJEB) $0.20 x $0.25 for a net credit before commissions of $1.20 a share. If filled and if CME stays below 200 until expiration next week, this will yield a 12 % return on risk before commissions for 7 business days. This trade is speculative and could require a fast adjustment if CME rises quickly.
DISCLOSURE: At the time of publication, I have no position in the referenced options or the underlying stock.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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