Thursday, August 9, 2012

another $CF setup for entry

CF strong after an initial sideways move after earnings. apparently farmers are fertilizing dry fields.. a crop report is coming out tomorrow i believe so expect some movement off of that. CF breaking out now and thats getting me looking at new spreads since the selloff doesnt appear to be happening.. been working within a channel for a few weeks so i am looking at strikes at/below the channel..the 50day is rising quickly so it will be at bottom of channel to add support as well.. first spread im looking at is the 185/190 for SEP. Trademonster analyse tab show it to have 85% probability of max profit at opex right now.. premium is good the .70 range now . will see how it moves on crop report though first

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