Friday, April 13, 2012

Trade: Sold GOOG May 12 585/580 Credit Put Spreads

Google flushing away today.  Not going to risk turning a good trade into a loser.  Spending the $0.05 to buy back the short puts.  Total profit of $250.

Market didn't like Google's earnings call yesterday.  Even though it beat EPS, it missed revenue and announced a 2 for 1 stock split.  Selling off big time today on double the daily volume and it's not even lunch yet.  Still holding the trendline from the January low, as well as the lower Bollinger band and 50-day sma.  Going to give this one some extra room.  Shooting under the 200-day sma.  Currently sitting on 86.7% probability of max profit.

Sold GOOG May 12 585/580 put spreads for ($3.38-$2.83) x 100 x 5 spreads = $275 premium received

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