Facebook bear call spread 185/190 ending July 19th, re-eval on July 1st
$150/350 Reward/Risk
Target is $120 with $240 max loss.
SPY is fading FB may follow if it breaks support
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Strategy changed I went for Iron condor at 140/145/180/185
1.49/3.51 Max profit $120 or $240 max loss
Trade active
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Adjusted to 175-180-185 iron fly due to break through 185 strike. Took a small profit of $54 then added my credit spread at 175/180 for a credit of $1.33.