Good morning team.
As you know I am in no rush to enter trades but flipping through charts this morning I see a potential opportunity in CSCO. I’m looking at and Iron Condor position but I’m going to be very picky about the entry. If you don’t understand Iron Condors try putting it on in a paper trade account.
Consider:
Selling the MAR 43 Calls & Buying the MAR 44 Calls – Selling MAR the 38 Puts & Buying the MAR 37 Puts. I have placed the order trying to get a $0.40 Credit. The minimum I would accept is $0.35 as a credit.
If we do get a $0.40 credit the Maximum Risk in a single spread is $60.00. The probability of success currently is better than 70% assuming we get filled. Don’t rush the trade. Let the order sit there and bake. If we don’t get filled don’t worry about. There will always be another trade.
Remember all trade ideas are for your evaluation and consideration.
Good morning team.
With XLE showing follow-through down I have purchased the FEB 78.5 Calls creating a credit spread. Then I closed the March 73 calls. Overall we still have an outstanding profit on the position.
Remember all trade ideas are for your evaluation and consideration.
Good afternoon team.
During the live session today we picked up a couple trades.
1. NKE is making a nice move off of support today. Keep in mind the overall market is a bit funky so decide carefully if you want to enter any new positions. Consider buying the NKE APR 65 Calls. The initial stop is $65.95 but it could be tightened up after the close today.
2. This trade is setup with a 3-chart because TBT tends to gap just about every day so we slowed down the price action with the 3-day. Consider the MAR 35 Calls with the thought of a quick trade in mind. The Initial Stop is $35.00. Because TBT tends to gap if it gaps up either move your stop to lock in some gains or simply take the trade off and bank the profit.
Doug
Remember all trade ideas are for your evaluation and consideration.
