I am breaking from the trade plan and closing out the position early with intent to re-sell.
Here’s why:
1. BIDU is probably forming a higher low and will retest the most recent swing highs.
2. The trade has already captured 50% of the credit after two trading days.
3. The overall markets are getting close to short term oversold which could lead to a broad based bounce.
4. Roger talked me into it
Buy to close BIDU Jul 220/230 call spread @0.90
RE-SELL at 1.70