Diary of My Trades. My tools: Platinum, ThinkorSwim and ProfitSource

Friday, May 26, 2006

New Potential Credit Spread

GM:
Bounced from 50D MA with large candles. I am consedering a Bull Put Spread on this trade.
Sell 27.5P
Buy 25.0P for $80 credit
Money Stop: Loss of $80 (correspond to Tech Stop of $25.8)


FCX
Bounced 200D MA with large candle and more than average volume.
Sell 55P
Buy 50P for $165 credit
Money Stop: $80 which corresponds to technical stop
Technical Stop: $52.50

Update 1

My SNDK fly was wrong in direction. So I took paper loss and moved on
My GOOG fly is still in the market. The fact that GOOG has not gone back to previous highs may turn out to be good for me as I want this increase to happen around September.