SM Energy Dec '16 CALL SPREAD

Buy: Dec '16 $30.00 CALL
Sell: Dec '16 $40.00 CALL

• Initial outlay: $305 (net debit)
  
• Maximum risk: $305 at a price of $30 at expiry
  
• Maximum return: $695 at a price of $40 at expiry
  
• BE at expiry: $33.05