Last week when we sold the June 480/500-call spread for $3.20 I expected that it would take until June expiration for us to realize our profits. Surprisingly enough the price dropped enough in one week for us to realize an 11% profit in a short period of time. Although I think this call spread will ultimately expire worthless, I don’t think it makes sense to hold on to the spread for another 6 weeks just to capture another dollar profit.
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