Ok so we have a confirmed failed breakout in GOOGL.. the problem is it came in the form of a gap up so it will feel like chasing.
Because I want to have a “theta positive” trade right now, I’m going to focus on spread sales.
|IWO Premium Order Ticket|
|STO||GOOGL||18 Nov 16||755||Put|
|BTO||GOOGL||18 Nov 16||750||Put|
I’m offering .90 but no fills yet. .85 to .80 should get filled.
Going to SCALE IN here. Will add at 1.20 and 1.70.