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I read the trade for a diagonal call on Microsoft on 4-19-2011 and bought the call leap 2012 Jan 22.5 for 9.29. It's now trading at 2.61 and doesn't look like it will improve. I'd like to buy to close this option and sell to close the Pepsico call leap 2012 Jan 50 to balance the loss on Microsoft. This would leave the Pepsico Oct 22 call for $70 and the Microsoft July 16 call for $25. Would this be all right to do or do you have another suggestion?
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