Opening Trade
Putting on an XOP ratio spread for a credit of $0.16. This trade has no risk to the upside because it was done for a credit, and has a max profit of $580.00 (distance between the long strike and short strike plus the credit received = ($1+$0.16) x 5 x 100 = $580.00). Ratio spreads can be put on for a credit because you're selling more contracts than you're buying, in this case 2:1.
Sold: five 15 SEP XOP 30/31/32 Ratio Spreads @$0.16
Total Credit: $80.00
Total Commissions/Fees: $17.19
Balance: $44,365.30
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