Bought 10 1150 calls last week for 21.5c
Sold to open 20 1200 calls today for 11c.
Payoff looks like this:
1150 or below $100.00
1162 $1,350.00
1175 $2,600.00
1187 $3,850.00
1200 $5,100.00
1212 $3,850.00
1225 $2,600.00
1237 $1,350.00
1250 $100.00
1263 $(1,150.00)
Since NCP long term trendline is 1250 I dont expect anything over 1250. I can always exit trade before 1250 anyhow.
Obviously I would like to see 1200 at expiry.