Tuesday, May 29, 2012

$CMG -good trigger but no trade

decent trigger today for a new entry that got me looking for a credit put spread trade..broke out of this downtrend today. so looking at credit put spreads at/below the low from last week as a minium so near 380ish.. but looking that the premiums available and the wide (as usual) bid asks i did not get the warm fuzzy about this level for June.. unconfirmed earnings in july show to be before opex so that rules out an july spread since that will result in IV rise into the earnings date likely cancelling out any time decay. so no trade for credit put spreads at least.

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