LNKD has opened up today with some more selling which has pushed us below the 220 level, and we are currently trading at 216.75.
This was good news for my position from yesterday which prompted me to take my profits off the table. Since the spread at this time was practically worthless I decided to just remove the short leg (235 call) by buying it back for .04. With Think or Swim, this is commission free because it was taken at .05 or less. This also gives me a lotto ticket at the 240 level if LNKD were to rally back up to those levels in the next day.
My net gain for this trade was .47 ($47) per contract which is 85% of the max profit. Now I do not need to watch this trade, and can move on to the next set-up when it becomes available.
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