Thursday, March 11, 2010

Opened GME bull call spread

I've opened a bull call spread on GME for a 43-cent debit with the stock trading at $19.28.

The vertical debit spread expires after trading on March 19 and is structured as long the $19 strike, short the $20 strike.

The break-even points is $19.43, with a max profit of 0.57 and a max loss of 0.43 (ignoring trading fees).

Earnings are on March 18, so I must exit nimbly.

See my analysis from earlier today.

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