Description
A close < 176 triggers a short position.
Using expiration two weeks out for a little additional time on this slow mover.
Put Debit Spread
Levels on Chart
SL > 176
*Stops based off underlying stock price, not mark to market loss
The Trade
BUY
11/12 172.5P
SELL
11/12 157.5
R/R & Breakevens will vary when filled.
The long put is placed ATM for higher chance of profit,
Short put is placed at the support established in August - September.
Always implement proper risk management
Only invest what you are willing to lose
A close < 176 triggers a short position.
Using expiration two weeks out for a little additional time on this slow mover.
Put Debit Spread
Levels on Chart
SL > 176
*Stops based off underlying stock price, not mark to market loss
The Trade
BUY
11/12 172.5P
SELL
11/12 157.5
R/R & Breakevens will vary when filled.
The long put is placed ATM for higher chance of profit,
Short put is placed at the support established in August - September.
Always implement proper risk management
Only invest what you are willing to lose
Trade active:
Filled at 1.82.
Trade active:
If AXP does not make a meaningful move below the breakeven, I will end up cutting losses closing out.
3 more DTE
3 more DTE
Trade active:
I was looking at cutting this one if it didn't close below yesterday's close, but it held.
I am willing to lose a little more TVP for the potential to move lower.
Otherwise, this would be a close out.
I am willing to lose a little more TVP for the potential to move lower.
Otherwise, this would be a close out.
Trade closed manually:
Just moving too slow with not enough time left to expiration.
Closed out at .71, -61%.
Closed out at .71, -61%.