Our Chevron diagonal spread is showing a profit. We will need to reset our long options anyway, so let’s close the trade for a net profit of around 1.00 or $100 per contract and look at opening a new position in the trading workshop tomorrow.

TRADE CLOSE

Chevron (CVX):  161.32

TRADE 1:  CLOSE the CVX diagonal call spread for a net debit of around 1.05 to 1.10

BTC the CVX 28 Jul 152.50 call

STC the CVX 18 Aug 155 call

TRADE 2:  CLOSE the CVX calendar put spread for a net credit of around 0.52 to 0.58

BTC the 28 Jul 155 put

STC the 18 Aug 150 put

Master Portfolio:  3 contracts