Friday, August 3, 2012

closing - $V credit put spread entry

21 sep - another one expiring at max profit. going to need some type of selloff to juice the premiums a bit to get into this again since its had a decent move up since this trade was put on. will keep on watchlist and wait for a pullback


3aug - saw an IBD tweet about Visa yesterday that got me looking at it again, kind of dropped off my radar since i have been watching Mastercard so much..the chart is kind of busy.. but you will see that the stock has been in a good uptrend since June, recently hit new high with it threatening it again today on a big up day for the SPY, its trading above the 50day moving average which is always preferred. since visa is not a big move like PCLN its option premiums are going to be lower so im going to need to go to SEP to get some decent premium.. there is some weak support near 122 from week ago to get under, there is the rising 50day to get under and some stronger support near 120.. so i will go right there for my strikes..right at the 120. earnings were good as well..

Sell to open the SEP 115/120 credit put spreads for .60

Trademonster analysize tab showed this spread to have a probability of max profit at 85% at time of entry.

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