Rolling our COP call contracts to a lower strike price.
This lets us buy more intrinsic value at a discount, and sets us up for better profits when shares move in our favor.
- Selling (to close) our 8 COP October 21st $110 Calls
- Buying (to open) 8 COP October 21st $90 Calls
- Limit: DEBIT of $10.00 or less
- The new position will represent roughly 8.8% of our Spec Model capital
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- Executed 9:50
- SOLD 8 COP Oct 21 $110 Calls @ $1.51
- BOT 8 COP Oct 21 $90 Calls @ $11.15
- Net DEBIT: $9.65