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rockgy
May 4, 2017 2:07 PM

Long BIDU by selling Put Spread 170/165 Long

NASDAQ:BIDU1D
Baidu, Inc.NASDAQ

Description

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BIDU has been pulled back from 188$. I expect it would start to bounce back from the trend line. Setup the position by selling a put spread.



Position:
Short June 170
Buy June 165

Premium: 1.05$
Target: 50% of the premium.
Breakeven, 168.95$
PoP: 71.35%

Trade closed: target reached

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Closed the position at $0.48.

Profit is $0.57 per contract.
BIDUputspread
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