NaughtyPines
Long

OPENING: XLU SEPT 21ST 46 LONG/JUNE 15TH 52 SHORT CALL DIAGONAL

AMEX:XLU   SELECT SECTOR SPDR TRUST AMEX UTILITIES SELECT INDEX
... for a 4.63/contract debit.

Metrics:

Max Profit on Setup: $137/contract
Max Loss on Setup: $463/contract
Break Even: 50.63
Debit Paid/Spread Width: 77.2%

Notes: Will look to take profit at 20% max; roll short call at 50% decrease in value.
Trade closed manually: Taking small profit here quickly on this broad market upmove, covering for 4.87/contract credit; .24/contract profit (5.2% ROC). Will consider re-upping next week if there's weakness to be had ... .
NaughtyPines Wackinhut
@Wackinhut, Awesome. I'm hoping for another shot when we get a zag (or is is zig?) back toward that trendline support ... .
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