Micron Technology, Inc.
Largo

TRADE IDEA: MU MARCH/APRIL 31/38 UPWARD CALL DIAGONAL

212
METRICS:

Max Loss On Setup: $476/contract
Max Profit on Setup: $224/contract; $112 at 50% max with a Return on Capital of 23.5% at 50% max
Break Even Versus Spot: 35.76 versus 35.76
Debit Paid to Spread Width Ratio: 68%
Delta: 35.47
Theta: .51

Notes: A similar play to the BMY upward call diagonal (See Post Below), but without all the drama around earnings (which are in the rear view mirror by 34 days). Additionally, a bit more liquid, at least as shown in off hours (bid 4.66/mid 4.76/ask 4.87) and without the goofiness of BMY's two and a half wides ... .

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