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 | ||||
| Type | Asset | Duration | Strike | C/P |
|---|---|---|---|---|
| STO | GOOGL | 18 Nov 16 | 755 | Put |
| BTO | GOOGL | 18 Nov 16 | 750 | Put |
| Total Credit: | 0.8 | |||
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.