Unprofitable: I lose money on this trade if DG closes above $49.40 by June 15, 2012. The most I can lose on this trade is the amount the Spread can be worth $1 minus the price I sold it for $.40 for a total of $.60.
Reason I Like This Trade: I like this trade, because I can make money if DG rallies, is flat, or goes lower. It tested to $49.50, but saw some selling pressure at those levels. This is a good risk vs reward in my opinion for earnings.
UPDATE 6.5.2012 With the sell-off in DG this Spread went from $.40 to $.10. I took off half of my position for a double and leaving the other half on for more potential profits.
UPDATE 6.7.2012 I took this trade off completely at $.05 and $.10, good for more than a quadruple. Taking profits and moving to the next trade.