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When I entered the spread before noon Friday, GOPGL (460c) was @ 3.0. GOPGG (470c) was@ 1.6 for 10 contracts each. I received $2965 credit for the 460 and paid out $1600 for the 470. If it stays below 460....I am happy...I get to keep the Credit. If it gets near 460, that will be close to...

On the Trendline break... if the breakout is a gap from the previous day, here is an interesting artical that i found to be useful... Thanks to Dayrl Guppy Speaks... http://www.remisiers.org/guppyspeaks.html

Generally if you are going to do Spreads...plan on the broker, to require you to put up 100% of the difference between the 2 strikes. 2.5 spread = $250. 5 spread =$500. 10 spread = $1000. You do NOT want all you cash in one trade..

the $885 is the requirement for the 10 pt spread. ($1000) Minus the "Credit" from the sell ($160). then the commission deducted from the Credit. That leaves you with the $885 total required. But... I always use the amount required for the 10 pt spread as my guide for the trade. I just...

see attached document. Example from Optionsxpress trade calculator.

GOOG's earnings will be released 7/21. This is right before the expiration date. I entered into this today with a Call Credit Spread . Sold ten, 460c, and bought ten, 470c. (Potential profit of $1250 if it does not go above 460 @ exp). I usually bail out of the short side the day before...