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Setup: Support Buy
Price: 40
Description:
The stock looks like garbage right now. It had a volatility pivot this past week and looks to head to 40.
If you want, you can play it short down to 40. Odds are, that price is going to act as a magnet.
However, once we get there, I’ll be looking to sell some spreads.
Strategy: FSLR Sep 35/30 for around 1.00
Close it once the price goes down to .30
If FSLR closes under 35, sell for a loss.
Level hit hard… FSLR posted bad earnings, then a few days later SPWR posted more bad earnings.
This is a knifecatch, so make sure to scale in:
IWO Premium Order Ticket Type Asset Duration Strike C/P STO FSLR 16 Sep 16 35 Put BTO FSLR 16 Sep 16 30 Put Total Credit: 0.75 This is a scaling trade, so I’ll be entering at 1.20 and 1.70 and scaling out aggressively.
The Sep 35 Put has a value of 0.12 so I’m going to buy that back and consider the trade closed.
This was a knife catch in a stock that is in a pretty clear downtrend… I don’t want to overstay my welcome.
IWO Premium Order Ticket Type Asset Duration Strike C/P BTC FSLR 16 Sep 16 35 Put Total Debit: 0.12
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