While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Bill Davis, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
I am going to suggest you book your profit on the OI?position.
As such, here is my suggestion.
Sell to Close November $17 call for $2.20
Buy to Close November $20 call for $.60
The net credit will be $1.60 per spread. The debit when we put?the position on was $.90 per spread.
Based on the suggested 10 lot, the cash return will be $700.
This works out to a 78% return for about a month.