We never really saw a squeeze higher in YHOO, and with today’s pullback we’re sitting at some really nice gains.
The trade is currently up around 35% return on risk, which is great for this kind of trade.
DO NOT GIVE THOSE GAINS BACK. If you want to try and milk it for more theta that’s fine but you MUST have levels that you plan to exit this trade on.
In case you just want to ring the register, here’s the closing orders:
BUY TO CLOSE YHOO Dec 50/45 bull put spread @ 1.36
BUY TO CLOSE YHOO DEC 50/55 bear call spread @ 1.27