Super Not-Sexy Swing Trade - $APA - Apache Corp lower

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APA             had a quick drop to this $70-78 consolidation range after a 104.57 top on 7/31. A lot of room to go lower below the 10/15 low ($68.29). I got filled on one (delta 0.63) JAN15 75 Puts for $5.00. I don't have any idea what the company does (don't care), just looking at the chart.

Risk - sell stop when underlying stock price is above $78.65. If that is not ever filled, adding a 30 day time stop to get out. Time stops are good for straight bought options because that can turn into a pretty large theta decay loser if it doesn't go up or down.

Target- A double? Using a trail stop method in it's infancy.

Disclaimer: This is also a trade for me to get my cash portfolio delta lower. May not be your cup of tea for your situation.

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