Neutral to bullish - bull put spread ( net credit)


Options trade - Bull Put Spread

technical - seems like a two legged correction in a weak bullish trend of equal amounts has indicated a pause in price ;

The at the money put at 16.50 is sold for credit for Aug 20th expirey;
The out of money put at 15.50 is bought for debit
net credit $1000

scenarios -
1. If > 16.50 at expires keep money
2. if between 15.50 & 16.50 try to get out around breakeven...
3. If really goes down hard < 15.50 strike or breakeven point, may have to roll down for small loss...
Trade to make a living,
Not a fortune...


Do you think it's possible that a double top is emerging?
@jnair25, seems to be range bound in a broad 15.50-18.00 so I'm betting on it gravitating to the mean volume point of control
around 16.90 ( as mid price)
+1 Reply
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