8.3 C
New York
Thursday, March 28, 2024

Vegas Baby!

Time to think about taking the money and running on last Tuesday’s trade of the day.

With our $1.50 put at $5.40 (350%) this is no place to get greedy. I am putting a stop at $5 just in case it breaks the 200 dma of $39 but, with the stock already hovering at 3% down today, I’m not that sure it will keep down this trend. From a straight stock perspective, a break above $40 would be a surprising change of direction

I’m confident enough that I’m willing to bet 10% of my gain but not more than that. If it comes up I will be happy to reenter with a longer put.

This trade will pay for a really nice Vegas vacation but we are not done milking this cow!

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