Trade Alert 4/3/2024

 

We bought a call butterfly spread back all the way back in August of last year in OXY. The trade was a long-term bullish expectation. We took profits on it this morning. We have surged and we are still closer to the long strike than the short as expiration approaches. Sell to close:  OXY April 19th (monthly) 65.00 strike call (ratio of 1) Buy to close:  OXY April 19th (monthly) 75.00 strike call (ratio of 1) Credit: 3.40 – this order has filled We are leaving the remaining OXY April 75 and 85 strike calls to expire worthless in a couple of weeks. However, if one wished to avoid the unlikely bear call spread risk, those options could be closed for a small cost as well.We are rolling up and out on our BRK.B April covered call as follows: Buy to close:  BRKB April 19th (monthly) 425.00 strike call Sell to open:  BRKB May 17th (monthly) 440.00 strike call Debit: 0.55 – this order has filled