Opened Credit Call Spread or Bull Call Spread in
Oil and gas driller Pride (PDE) listed NYSE
There has been a lot of buying of july 35 calls
+ price moving up strongly now.
Share price was around $ 30.80 at time of opening
Buy 2 PDE-N jul07 30 Call @$3.4
Net Cost-700.00
Sell 2 PDE-NJul07 35 Call$ @1.2
Net Credit 220.00
Total Cost = $2.20 per call = $440 before commissions
= $ 480 after commissions
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