Trade adjustment, going to a Half & Half (from my Playbook)

I have done a little adjusting to my current long position in $CRM today. The 1st adjustment was to buy back the short December weekly 165 Call and move it out and up to the 170 monthly Call for December. I finished this adjustment earlier today, taking out $.90 cents.

Now that price has stabilized today, I have elected to do the following adjustment to a Half & Half:

  1. sold 1/2 the long stock position at 167 (gain of $7 from entry)
  2. BtO a 1/2 position in the December 165 Call for $4.40

Now this is what the trade looks like:

  • 1/2 position long stock
  • 1/2 position of a December 165/170 Call Spread
  • 1/2 position of a December 170 Covered Call (tied to 1/2 position long stock listed above)
  • long the December weekly 160 Put

Whew.

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