On 5/9/08 I entered the trade:
BOT USO JUN 08 95 CALL @8.30 debit
On 5/15/08 I adjusted the trade by adding a short call as follows:
SOLD USO JUN 08 105 CALL @2.30 credit
Cost Basis: 8.30-2.30= $6.00 (most $ at risk)
On 5/21/08 I bought back the short call as USO has broken resistance at 150:
BOT USO JUN 08 105 CALL @5.35 debit
Today, I have sold the long call to exit the trade as it is showing slight resistance below 110:
SOLD USO JUN 08 95 CALL @12.65 credit
Profit: -5.35 + 12.65= $7.30 profit
7.30 profit/6.00 risk= 121.7% in 13 days
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