Wednesday, March 19, 2008

ADJUST: USO Time Diagonal to BRCS

I was in the Apr 91/Mar 90 time call diagonal. Today is expiration day for my March but I missed a chance to exit out of this trade completely this morning (taking my dog to the hospital)! :(

I converted my Mar 90 to Apr 90 for a credit of $1.35. My total debit upon entry of this trade was $1.68. So now my current cost basis is $0.33.

This gives me more time to profit on this trade as it continues to head down. It appears to have reached its 1 year high and is turning down today so I chose to stay in this a little longer.

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