Adjustments and Comments on Weekly Option Trades
1/23: FCX – Shorted Jan (1/26) $20/22 bear call credit spread for $.26/share. Stop Loss: $20.22. 1/24: Negated gap down with BT, sell Jan (1/26) $19.5/17 bull put credit spread around current mid-point of $.30/share to leg into iron condor. 1/25: Breakout out pre-market on earnings. Consider buying the stock around low $20.20 to leg into covered call (goal will be for everything to be assigned over the weekend, in which case still net positive).
Happy trading! If you have any questions or comments, please e-mail Greg Capra at Greg@mastertrader.com or Dan Gibby at Dan@mastertrader.com
All the best,
Greg Capra
Managing Director of Master Trader
Pristine’s Founder and Creator of the Pristine Method
Dan Gibby
Chief Options Strategist
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Twitter: @GregCapra
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NOTE: Master Trader will show opening and closing prices of all stock and option trades. We do not recommend proper share size for your particular trading style, risk tolerance, or account balance. We urge you to calculate your own share size based on your individualized risk parameters, Trading Plan, and familiarity with the proposed trade strategy and risk.
NOTE: Master Trader and its representatives might have existing positions in these and other trade recommendations before or after suggested herein. Additionally, we often manage them differently for internal purposes based on different risk parameters than noted herein.
