#LongCallDiagonals – Long term diagonal (Whiz style trade) is pretty much dead money now so booking it. With the near vertical rise in this thing the short term call got away from me. So far ITM now that profit is basically capped on the LEAP call. After rolling the LEAP call up a couple times to reduce risk, I’m closing the whole thing except the Jan 2019 500/400 BuPS which I’ll close if I ever need the buying power. Ideally we get a pullback to start all over again.
Bought to Close AMZN DEC 15 2017 865.0 Call @ 167.20
Sold to Close AMZN JAN 18 2019 850.0 Call @ 239.1
After roll ups of LEAP call basis was down to 30.75 and front month sales brought in another 38.7 points.
When it’s all said and done a net gain of 79.85. Worked pretty good but having that front month call in the way really hurt. Next time I’ll be more aggressive getting out of the way. Of course, who could’ve seen a 300 point six month run coming…wow!