Options Oracle: 10/08/20

TOO 100820

Once again we are faced with an opportunity to take cash from the market. We are currently holding a long position in the Jan 2022 $20 Leap Calls in BAC and we are now turning this long position into a Diagonal Calendar Spread. If you do not have an existing position in these leap calls, then do nothing. You can use this as a lesson on how to morph the position. See video link below for details.

I’ve also attached a PDF file that explains more of the technical details and notes for managing this position moving forward.
Enjoy the rest of your day.

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