BOT SEP 08/JUN 08 30 CALL @ $0.95 debit
Total cost basis= $2.05
B/E range is between 28.57 - 36.61. Check out the risk graph below.....by adding the 2nd calendar I am stretching out my breakeven range and spreading out my profit potential (notice the shallow curve on the chart).
I did a double calendar since the stock is currently around $33.00 (between 2 strikes available of 30 & 35).
If the stock tests 32.50 line, which is where it is near now (current support level), and moves back upward, then I may remove my 30 calendar. I will analyze at that point.
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