JNJ earnings

#Earnings This trade looks to be a bust. It will cost 2.00 to close the ITM call spread; after the 1.50 credit we took in, that’s a 50-cent loss (ignore the puts, they will expire worthless). It may be possible to close it for less than 2.00 if there is any pullback, so keep an eye on it for the rest of the week. Sorry this one didn’t work out!