Adjustments and Comments on Weekly Option Trades
9/13/17: EFX – Over $115.40, consider shorting Sep (9/15) $100/90 bull put spread (3 DTE) for a limit of $.28/share (currently mid-point of $.30/share but spready). Note: High Risk because company’s egregious data breach release, but 100% Implied Volatility Rank gives us short-term income trade with big Cushion (far OTM strike) with few days of risk to expiration. Stop Loss: $110.28. CANCEL TRADE SINCE DID NOT GET DESIRED CREDIT.
9/12/17: BIDU Shorted Sep (9/15) $227.5 naked puts for $.60/share. Closed at $.17 x .20. Bid $.10/share to close and move stop loss to $235.48 to protect profits.
9/11/17: KSU – Shorted Sep (9/15) $103/99 bull put spread for $.35/share. Move stop loss $103.48. Bid $.05/share to close the short $103 puts (if not filled on 9/13, then cancel order and let short put expire worthless).
9/8/17: RE – Shorted Sep (9/15) $160 naked puts for $.45/share. Stop Loss: None now. Bid $.05/share for the Sep (9/15) $195 naked puts to try to get a free put spread and eliminate remaining risk (if not filled on 9/13, then cancel order and let short put expire worthless).
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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