Rolling our COP call contracts to a higher strike price and December 16 expiration date.
This lets us lock in profits while also giving us more time for the stock to continue higher.
- Sell (to close) our 8 COP November 18th $120 Calls
- Buy (to open) 8 COP December 16th $125 Puts
- Limit: Net CREDIT of $1.60 or more
- The new position will represent roughly 7.1% of our Spec Model capital
- Executed 11:54
- SOLD 8 COP Nov 18th $120 Calls @ $12.83
- BOT 8 COP Dec 16th $125 Puts @ $11.13
- Net CREDIT: $1.70