Wednesday, June 6, 2012

$MA setup for entry / condor

14 jun -  still watching this same level and setup to get into call credit spread to collar up my july credit put spread.

6jun - stock has moved nicely this week, up almost 30points during this week. in hindsight it bounced off the 150day and the support line near 390..these are always easy to see after the fact but have to take a leap of faith or play the percentages WHILE its happening. missed the buyback announcement by rolling my june put credit spreads down and out to july 395/400 by one day. never fails, but was able to roll for zero.
   stock tagged almost perfectly the 50day 2weeks ago, so 50day acting as resistence, will be watching for what happens if stock gets back near 50day again. fails to breakthru, would be good entry for a call credit spread to make my position into iron condor. would look at strikes at/above the all time high..premium is decent since there is plenty of time to july opex. setting alert for 425 to get on radar

No comments:

Post a Comment