Shares of IP hit new highs this morning, but has not seen any follow through.
I've been in this trade for some time and going to lock in profits.
Here's what I'm doing...
Sell-to-close IP July 16, $65/$67.50 call spread
At last glance, the spread is trading at $1.05.
If filled at that price, it's a 31% gain from entry at $0.80.
Congrats on another winning trade!