TRADE INSTRUCTIONS

Equity:

Name: Xerox
Symbol: XRX
Type: Sell
Limit: $26
Return: 23%

Option:

Name: Xerox July 19 Call Option
Symbol: XRX190719C00019000
Type: Sell to close
Limit: $6
Return: 100%

TRADE RATIONALE

Well, that was fast. Three weeks ago, I opened a long position in Xerox stock and the July 19 Xerox call option at the $19 strike with a limit price of $3. As of this morning, we have achieved our target return for each trade so I am closing them out. Earlier today, Xerox upgraded its earnings guidance for 2019. The stock jumped more than 8% as a result, above our target price of $25. Who knows, perhaps XRX will head even higher but as flukey as this market is, I’m booking my gain while it’s there for the taking!