The shares of Citibank has moved up from $38 in October Low’s to $58, that is 52% gain. Anyways, if the trend continues there is a chance Citi hits $70 by the end of the year.
So I bought $70 Jan call and sold $75 Jan Call for $.84 debit, to finance this, I have also sold $40 put for $.72, net, net it cost me $240, if the stock is above $75, that would be $10K profit, and as long as stock closes above $40, my total loss is $240 but the commissions.
Wish me luck.