Just noticed that preliminary earnings announcement date is set for Oct-16, which is before opex. This is not acceptable, per my rules. Closing out the trade. Actually not too bad, 27% of max profit in just two days.
Trade:
BTC Oct 12 IBM 190/185 bull put spreads for ($0.86-$0.48) x 100 x 5 spreads = $190 debit vs. $260 credit = $70 profit
9/11/12
Thanks to @ukarlewtiz for pointing out the inverted h&s today. Neckline looks to be around 203 with a measured move to ~220.
Keeping the short strike well below the 20, 50, and 200-day moving averages, as well as the Bollinger band. Also using the trendline as support. Over 4 and-a-half ATRs away as well. Currently probability of max profit is 88%.
Trade:
STO Oct 12 IBM 190/185 bull put spreads for ($1.23-$0.71) x 100 x 5 spreads = $260 credit
Bought OCT 210/215 bull call spreads
ReplyDeletePersonally I would've gone a little further out in time with strikes so far OTM.
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