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OKE at 54
I’m looking for a move retest the highs (57+)
Chart:
I’m going to pick up a ITM call with about 30DTE. I will only risk what I am willing to lose in this trade. The risk is the debit paid.
Risk Profile:
Order Ticket:
OKE at 55.73
I’m going to sell an ATM call to convert this trade into a call spread. Selling the 55 Call will bring in 2.25 credit with will reduce original risk from 3.30 to 1.05
The most this spread can be worth is 2.50 which will yield around 40% on original risk.
Risk Profile:
Order Ticket:
OKE at 60.88
The 52.5/55 call spread is now ITM with 8 days to go. I will try to exit this spread for 2.40 credit. The most this spread can be worth is 2.50
The market will not let you close for 2.50 as long as there’s time until expiration. Giving up 0.10 to close early is not a bad way to close out this trade.
Risk Profile:
Order Ticket:
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