- This topic has 2 replies, 1 voice, and was last updated 6 years, 7 months ago by .
Viewing 3 posts - 1 through 3 (of 3 total)
Viewing 3 posts - 1 through 3 (of 3 total)
- You must be logged in to reply to this topic.
Become a Great Options Trader
Home › Forums › Open Trades › 2b Reversal in GOOGL
Setup: 2b reversal
Price: 800
Description:
800 has been tested twice in the stock. Look for a move lower but a failure to sustain that move. On that failed breakdown, buy the Nov 820/840 bull call spreads. If you want positive theta, you can just pick up some bull put spreads.
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.
Closing this out as earnings are done and the premium disappeared.
IWO Premium Order Ticket | ||||
Type | Asset | Duration | Strike | C/P |
---|---|---|---|---|
BTC | GOOGL | 18 Nov 16 | 755 | Put |
STC | GOOGL | 18 Nov 16 | 750 | Put |
Total Credit: | 0.15 |