Kimberly-Clark Corporation Diagonal Call Spread (Update)

This last week, I closed out the Kimberly-Clark Corporation (KMB) diagonal call spread I opened in March of this year for a net profit of $759.17, and an IRR of 217%. I opened the position when KMB was trading around $62.50, and felt that its high dividend yield (4%), low earnings multiple and stable business (bathroom products) would provide a floor under the stock price. I also didn't feel that the stock had the potential to appreciate a great deal in the short term or "pop", and so chose to purchase a diagonal spread that would profit from time decay. As KMB stayed flat for several months, I was able to roll the short month option over twice. While I continue to feel that Kimberly-Clark offers solid value at today's prices, I've decided to lock in profit given the stock's recent rise. I'll monitor KMB and in the event of price weakness may enter into a similar position.