• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

IWO Trading Floor

Become a Great Options Trader

  • Customer Center

Full Time Profits, June 25th, 2018 – WYNN, GS

June 25, 2018 By Steven Place

After finding 2800, the markets are seeing a pullback.

So far, this pullback is rotational, sideways, and healthy. Buyers are still in control, unless 2700 is finally taken out.

When it’s rotational, that means that some stocks are still looking hot, and then others are trading like hot garbage. Other than that there really isn’t much to say about this market. I’m sure I could spin some tale about trade and tarriffs and China so I could sound really smart.

Let’s keep it simple. Two levels. 2800 and 2700. The longer we stay above 2700, the higher the odds of market continuation higher.

Today, we’ll be looking at stocks that have hit our price levels, but the option spreads need to be updated.

Trade #1: WYNN

 

WYNN finally got that second push lower we’d been looking for since June 7th. We need to shift the trade from Jul to Aug options.

Trade Setup

Expected Price: 172

Sell to Open WYNN Aug 150/145 Put Spread

Tier 1: Enter at 0.75, Exit at 0.25

Tier 2: Enter 1.05, Exit at 0.55

Tier 3: Enter at 1.35, Exit at 0.85

 

Trade #2: GS

We’ve been watching this one since May 29th, and looks about ready to head to our price target.

Trade Setup

Expected Price: 221

Sell to Open GS Aug 205/200 Put Spread

(I’m not sure on the pricing on this one, because the bid/ask into the close on Friday wasn’t clean. Ask was way too high so I’m putting a best guess out. If anything, wait for the stock to tag 221 and then figure out the pricing.

Tier 1: Enter at 0.70, Exit at 0.20

Tier 2: Enter at 1.00, Exit at 0.50

No Tier 3 (Earnings)

Disclaimer

U.S. GOVERNMENT REQUIRED DISCLAIMER – COMMODITY FUTURES TRADING COMMISSION. FUTURES AND OPTIONS TRADING HAS LARGE POTENTIAL REWARDS, BUT ALSO LARGE POTENTIAL RISK. YOU MUST BE AWARE OF THE RISKS AND BE WILLING TO ACCEPT THEM IN ORDER TO INVEST IN THE FUTURES AND OPTIONS MARKETS. DON’T TRADE WITH MONEY YOU CAN’T AFFORD TO LOSE. THIS WEBSITE IS NEITHER A SOLICITATION NOR AN OFFER TO BUY/SELL FUTURES OR OPTIONS. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE DISCUSSED ON THIS WEBSITE. THE PAST PERFORMANCE OF ANY TRADING SYSTEM OR METHODOLOGY IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY, SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN

Primary Sidebar

© 2021 Global Profit Systems International