GD long call spread converted to long call option
As explained in the video, I initially opened a long call spread by buying the 175$ strike and by selling the 180$ strike. As the stock got completely crushed all week, I decided to close my sell 180 call for a profit. Now I only have the remainder of the 175$ long call. If the stock has a significant rally, I could either hold my long call and try to make a large trade or I could de-risk by reselling the 180 call. Overall, I believe I am in a good position, and the stock market rally today on 5/10/2019 really helped this trade bounce back.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.