mar13 - bought back the spreads at .15 x 10 = $150
Trade profit for 14days - $350
Google was working within a sideways channel at the end of Feb., it broke out of the channel and thru the 50day on 28th.. i used the bottom of channel near 600 as support line to shoot against meaning short strikes to be at/below that level.. in hindsight could have gone higher but at the time the 585/590 spread was an 83% probability of max profit. best case is that stock keeps moving up and time decay kicks in.. stock stayed up for few days and then pulled back even into low 590's. didnt touch the short strike. again, this is why i dont use stops..would likely have been stopped out for a loss, instead held on stock rebounded since that day..near 613 now. time decay kicked in and closed for 80% gain. stock actually is a little lower at closing date than it was on entry..so i benefited from the time decay even though my entry thesis of breaking the 50day with upward move expected was incorrect.
