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Full Time Profits, July 27th 2017 – AMGN, GOOGL

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S&P continues to make new highs, with low, grinding volatility. Not my favorite market to trade, I’d prefer some better volatility but we have to work with what we’ve got. We’re in the middle of earnings season so many of the best trades are going to be fading post-earnings reactions.

Trade #1: AMGN

AMGN is running hard on earnings to the downside. Initial support is at 170, although I think that breaks and we see an initial test of 167.50.

Trade Setup

Expected Price: 167.50

Sell to Open AMGN Sep 160/155 Put Spread

Tier 1: Enter at 0.65, Close at 0.15

Tier 2: Enter at 0.95, Close at 0.65

Tier 3: Enter at 1.25, Close at 0.95

Trade #2: GOOGL

GOOGL gapped down, and is finding some initial support, but I wan to wait for a second leg lower before I look at entries.

Trade Setup

Expected Price: 950

Sell to Open GOOGL 890/885 Put Spread

Tier 1: Enter at 0.65, Close at 0.15

Tier 2: Enter at 0.95, Close at 0.65

Tier 3: Enter at 1.25, Close at 0.95

Disclaimer

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