Still very constructive action. Not much new to add here. There’s a ton of earnings coming out this week and I’m expecting continuation higher. All we’re doing is looking for pullbacks in those strong names.
Trade #1: VMW
This stock has a “sawtooth” pattern about it. Strong move over a day or two, followed by 2-3 weeks of “back and fill.”
The stock has almost completely filled the gap from the most recent catalyst, and I expect that to hold.
Expected Price: 151
Sell to Open VMW Sep 135/130 Put Spread
Tier 1: Enter at 0.75, Exit at 0.25
Tier 2: Enter at 1.05, Exit at 0.55
Tier 3: Enter at 1.35, Exit at 0.85