Rolled these losing spreads down and out to June for a net credit of $410.
View the details of the roll here.
Trade:
BTC MA May 12 410/405 put spreads for ($2.67-$1.57) x 100 x 5 spreads = $550 paid vs. $250 received = $300 loss
5/2/12
Mastercard (MA) reported an earnings beat this morning yet sold off. Taking the first trade I mentioned in my previous blog post here. Ended up dropping the short strike a bit lower than I originally said, due to the strong pullback juicing up premiums a little bit. OptionsHouse gives me an 85.4% chance of max profit, and the current strike peg is at 430.
Trade:
Sold MA May 12 410/405 put spreads for ($2.02-$1.52) x 100 x 5 spreads = $250 premium received
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