Supplemental Trade Alert: Close XLE May Double-Diagonal
Thu, May 19, 2011 | Frank
To finish out our Supplemental Trades closing orders, we’re selling our initial, double-diagonal position (adjusted), as follows:
Day limit order
Buy to close 2 XLE May 80 calls
Sell to close 2 XLE Jun 80 calls
Buy to close 2 XLE May 75 puts
Sell to close 2 XLE Jun 73 puts
for a net credit of $1.05 or better.
Note that the 2 contracts specified above represent our entire remaining position in this trade. To determine the appropriate number of contracts, one would match the number of long contracts in the XLE June 80 calls.
We’re planning to let the remaining open positions expire worthless.
Tags: double diagonal, exit, xle
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