nodiggity
Short

Straddle with TSO: Range-Bound!

NYSE:TSO   TESORO CORP
There are two ways to trade this. One is to short TSO             to $73.40, and if the resistance holds, go long until $77.90. That's too risky.

You can do that, but I'd rather play this as a straddle. Sell the $70 puts (1.25) and $80 calls (1.31) September calls.

Max Profit: $256 per option.
Comment: Everyone make money today? Good.
Comment: Wow that ripped past resistance. SLD at resistance. Don't be greedy!
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