Thursday, June 21, 2012

$MA call credit spreads expiring at max profit

20july - finally out of Mastercard with the Iron Condor at 395/400 (rolled from previous month) for the puts and the 455/460 for calls expiring at max profit today.. will now watch for what happens with earnings before getting back in.
Sold the july455/460 credit call spreads at .75
expiring today at zero for $750 profit on 10 lot

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21 june - after watching this level all week, have been looking for opportunity to add some credit call spreads to condor up the existing credit put spreads at 395/400 for july.. was looking for stock to have hard time breaking thru 430ish resistence but also
needing decent premium to make it worth my while..since i am already committing buying power to the credit put spreads, no additional buying power is needed to add call spreads if you keep the same size or less than your puts.. would have liked to get at least at the all time high level but premiums were not good enough and wide bid asks on the spreads werent helping. so i came down a bit on the levels and settled on the 455/460

Sold the july455/460 credit call spreads at .75

almost top ticked it but never know if i could have gotten better price with the spreads being that wide. trademonster shows this spread to be at 85% probability of max profit at time of entry. unconfirmed earnings look to be on 2aug

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