Vertical Spreads for Aggressive Growth
- Thread starter Cache Landing
- Start date
Well, it took two days but the move that I expected finally came just now. I was able to buy the shorts back two days ago for 0.60, and sold the longs today for 5.10, so I didn't quite get back to break even. Overall though, I'm happy with the exit.
At first glance looks promising. I've got a tee time in 15 minutes, so I'll have to see where they close today and do the r/r analysis over the weekend.
I've also got an order in to roll the MAY SPX bear calls into JUN a little bit further out. No takers yet, so we'll see what happens.
Sorry I wasn't able to get this posted before. I moved into a new place and had my system packed up into boxes for a couple days.
Friday's Action
STC 2 DNA MAY 75/80 c @ 4.50
Year to Date P/L
Account Value: $12,279.50
YTD Gross P/L: 2,575.00
YTD Commiss: 295.50
YTD Net P/L: 2,279.50
YTD % P/L: 22.8%
Friday's Action
STC 2 DNA MAY 75/80 c @ 4.50
Year to Date P/L
Account Value: $12,279.50
YTD Gross P/L: 2,575.00
YTD Commiss: 295.50
YTD Net P/L: 2,279.50
YTD % P/L: 22.8%
cnms2,
Is HPQ gonna finally breakout?
Is HPQ gonna finally breakout?
After looking it over a bit, I am a little concerned about the latest upward move. I think it is going to find support just above $26 and if the subsequent move is made on high volume then the resistance at $29 is in trouble.
That said, I might wait to see if it will bounce off of the 50SMA/horizontal support at 26.
Quote from cnms2:
Can't say. Earnings scheduled for next week on the 16th. If I had to trade it I'd pick the shorts, but ... I don't.
I think the ER might be the determining factor as to which direction it breaks.