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Full Time Profits, June 26th 2017 – HD, RUT

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Markets are indicating a higher open this Monday. As has been the case this entire year, any overbought corrections have been brought through time rather than price, and have been rotational in nature.

The tech pullback I keep waiting for appears to not be in the cards right now. I’ll be planning new entries in the large cap tech space soon.

Trade #1: HD

HD caught some nasty selling on Friday, with good volume. I think the actual news had to do with a lawsuit and the size of their 2×4’s. Go figure.

Key support is at 150, then the mid 140s. Now is a good entry.

Trade Setup

Expected Price: 150

Sell to Open HD Aug 145/140 Put Spread

Tier 1: Open at 0.85, Close at 0.25

Tier 2: Open at 1.35, Close at 0.85

Tier 3: None

Additional Risk Management: IF 145 is hit, we will roll this trade and add the third tier on.

Trade #2: RUT

I’m expecting the range to continue to hold and smallcaps to finally breakout into late summer.

Trade Setup

Expected Price: 1415

Sell to Open RUT Aug 1340/1330 Put Spread

Tier 1: Enter at 1.40, Exit at 0.40

Tier 2: Enter at 2.00, Exit at 1.40

Tier 3: Enter at 2.60, Exit at 2.00

 

 

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