Our Square (SQ) spread has worked out exactly as we’d hope. Let’s book profits now.
Current Stock Price: $226.42
Cost Basis: $77.15
Action:
- Buy to close the SQ Jun Monthly (6/18) 230 Call for around $2.10
- Sell to close the SQ Jun 2022 (6/17/22) 150 Call for around $85.50
- Set initial credit limit at $83.40
Profit: $6.25, or $625 per spread