FDX delivered strong results last night and traded higher by almost 9%. as of 7:30 am ET it's currently trading at about $257.30, up about $21 from it's close of $236.67 last night.

We still have about $7 of room until it reaches our $265 max profit price point, but this may get a little dicey over the next couple of days. We will see how FDX opens this morning and possibly look to close the position. Stay tuned for an update.

We had a very high risk vs. reward for this trade, but as you can see the stock is up almost 10% this morning and we still have almost 4% of head room where we can achieve our max profit. Not the action we would have hoped for but we still have a fairly decent probability of achieving a profit.

FDX first quarter adjusted net income jumped 60% to $1.28 billion for the quarter, or $4.87 per share. Revenue rose 13.5% to $19.3 billion. Analysts expected earnings of $2.69 per share and revenue of $17.55 billion.