Adjustments and Comments on Open Advisory Letter Trades Note: Our Trade Updates are timely posted in a separate Report in the Member’s Area. Please see that document for a current reflection on all Open and Closed Trades since the spreadsheet updates immediately and will always be more current than this e-mail update. Thank you.
BUT HERE ARE A FEW RECENT UPDATES BASED ON MORNING ACTION:
JNJ – Under 30-Min. low on 8/1, (currently $132,70), consider shorting Aug (8/18) $134/138 bear call spread (16 DTE) at mid-point (currently$.69/share). Stop Loss: $134.02.
P – Shorted Aug (8/18) $9 naked puts for $.38/share. NOTE: Earnings 7/31, and this is meant to be an earnings trade. Move stop loss $8.64.
WYNN – Under $129., consider shorting Aug (8/18) $134/144 bear call spread (16 DTE) at mid-point (currently $1.10/share). Stop Loss: $133.32.
TIF – Over $96.94 (10-Min. high), consider shorting Aug (8/18) $91 naked puts (18 DTE) for a minimum of $.36/share (closed at $.39/share mid-point). CANCEL TRADE, DEEP RETRACEMENT.
COST – Consider shorting Aug (8/18) $150/144 bull put spread (18 DTE) for a limit of $.45/share (current mid-point is $.38/share but is extended intra-day and should get price improvement on pull back). Stop Loss: $149.98. CREDIT NOT RECEIVED YESTERDAY BUT STILL VALID TRADE.
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 and Pristine Founder
Dan Gibby
Chief Options Strategist
Chief Options Strategist
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