NaughtyPines
Long

OPENING: JULY 20TH 12 LONG/MAY 18TH 14 SHORT CALL

NYSE:GE   GENERAL ELECTRIC CO
... for a 1.57/contract.

Taking a miniature directional shot here as an engagement trade while I wait for the May expiry to come into the "sweet spot."

Max Profit: .43/contract
Max Loss: 1.57/contract
Break Even: 13.57
Take Profit: 20% of max/.31 per contract
Mar 26
Trade active: The only stock in the Dow that was red for the day. Much as I hate to, staying mechanical and rolling the 14 short out (which is at 50% max) to June for a .12 credit. Cost basis at 1.45. Since the cost basis is now that of a 1 1/2 wide, I can contemplate rolling the 14 down to the 13.5 when a weekly with half strikes comes into view ... .
Apr 20
Trade closed: target reached: Out today at the open for a 1.77/contract credit; .32/contract profit (22.1% ROC).
Risking 3x as much as your potential gain. What's your certainty?
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NaughtyPines RegiSchoeler
@RegiSchoeler, I'm agnostic as to direction. However, that "3x" is illusory, since I will have rolling opportunities for the short call from here to back month expiry.
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