OPENING: PBR OCTOBER/JUNE 5/7 LONG CALL DIAGONAL

... for a 1.38/contract debit.

Metrics:

Max Loss: $138/contract
Max Profit/Return on Capital: $62/contract; 44.93%
Break Even: 6.38/share

Notes: Another small, bullish assumption engagement trade with the back month at the 76 delta, front at the 49, and a break even at or below where the stock is currently trading.

Trade active:

Rolled the short call out to July on price traversing the short call for a .19/contract credit, decreasing cost basis/max loss to 1.19; max profit to .81 and max ROC to 68%.

Trade closed: target reached:

Out here for a 1.95/contract credit (.05) short of max with 44 days to go. .76/$76 per contract winner; 72.5% ROC.