Wednesday, August 8, 2012

$MA Bull Put Spreads For A Quick Scalp

Jumping in here with August credit spreads.  Stock has been beaten up the last few days but the long-term rising trendline is still holding.  Originally wanted 400/395 but still keeping the short strike under the daily Bollinger band and the low from July.  OBV doesn't look great on this chart, but scroll down to the weekly...

Lots of bullishness on this chart.  OBV looks great, ATR confirms the nearly two-year move upwards.  Currently a 91% probability of success on this trade.

I may condor these spreads, or close them down early to take profits.  We'll see what happens the next few days.

Sold MA Aug 405/400 bull put spread for ($0.92-$0.57) x 100 x 5 lots = $175 premium received

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