We have taken profits on the CCJ call butterfly today. This leaves us with the put sides and better positioned on a pullback in the stock. Sell to close: CCJ Aug 15th (monthly) 70.00 strike call (ratio of 1)
Buy to close: CCJ Aug 15th (monthly) 85.00 strike call (ratio of 2)
Sell to close: CCJ Aug 15th (monthly) 100.00 strike call (ratio of 1)
Credit: 4.55
We paid 3.15 debit, the result is a profit of +1.40 or +$140.00 per spreadWe exited our NEM call butterfly. It has gone from a small profit back toward breakeven and less attractive today.
Sell to close: NEM Aug 15th (monthly) 60.00 strike call (ratio of 1)
Buy to close: CCJ Aug 15th (monthly) 65.00 strike call (ratio of 2)
Sell to close: CCJ Aug 15th (monthly) 70.00 strike call (ratio of 1)
Credit: 0.68
We paid 0.70 debit, the result is loss of -$2.00 per spread (basically breakeven)