COST

Yep. COST has been climbing steadily:

http://stockcharts.com/h-sc/ui?s=cost

Not my best choice for a credit spread. I exit these trades when news + chart makes me think the spread might expire ITM.

COST has been steadily rising since earnings announcement and credit card switch on or about May 26:

http://www.cnbc.com/2016/05/26/this-is-whats-really-driving-costcos-stock-jim-cramer-says.html?__source=yahoo|finance|headline|headline|story&par=yahoo&doc=103668292

(quoted above).

I must admit that had I foreseen the continued rise after May 26 I certainly would have exited. But I thought it would fizzle. It hasn't.

COST is now at a resistance level set in early April. I have been holding on the theory that it would not pass this resistance point (which also set the original spread parameters).

http://finance.yahoo.com/q/co?s=COST+Competitors

Sooo...I am at decision point.

My broker shows me down $57 per contract. 57/45 = 127%. That's a lot for me.

I still think the market needs to pull back. BREXIT tomorrow. I always hate it when I bail and the market turns the next day.

I have no fear that I couldn't exit if I wanted to. I almost want to....Tomorrow and the next couple of days will tell.

:)
 
Last edited:
tradelosses said:
maybe you should create a trading journal instead of cluttering up this forum instead
More...

If you have something more enlightening to say... say it. I don't see any particularly insightful posts from you.

This is an ongoing conversation between myself and optionGuru involving the wisdom of credit spreads... but out.
 
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