Big movement today to new all-time highs. Buying these spreads back. No sense in keeping them on for another 3+ weeks just to make $50. $0.25 profit per lot in 1 week against $2500 margin is a 10% return or 143% annualized.
Trade:
BTC MLNX Aug 12 75/72.5 bull put spreads for ($0.23-$0.18) x 100 x 10 spreads = $50 paid vs. $300 received = $250 profit
7/19/12
Huge ER beat last night. Stock has been on a tear since Aug '10. Going to take a nibble here. Staying under the mid-point of the gap as well as below the pre-ER high of ~77. Slightly less than 3 ATRs away with an 83% chance of achieving max profit. Also note that even though the price is currently well above the Bollinger band, the Stochastics are just coming out of oversold territory.
May entertain the idea of condoring these, but will certainly not be in a rush to do so.
Trade:
Sold MLNX Aug 12 75/72.5 bull put spreads for ($1.40-$1.10) x 100 x 10 spreads = $300 premium received
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