For those wondering what a ratio backspread spread is I'll give you a link with a definition of it. Feel free to also just google put ratio backspread if you want to find a better explanation of it.
- Bought +2 100 AUG 15 157.5 Puts
- Sold/Wrote -1 100 AUG 15 162.5 Puts
- Exiting at a loss if we get a daily close above the 200 Moving Average.
- Exiting at a profit if we reach the 150 / 152 area.
Cheers, happy trading! =)
But to answer your question I personally see no reason to go long IBM in my own opinion. At the same time price is way to near to support for me to consider shorting it at this level also.