Is it Friday?

Today has been a pretty busy day for me. Too many projects, too little time. I wanted to post last nights trades from my credit spreads class before I forget...

AAPL Bull PUT(if it breaks)
Sell Sept 72.50 put
Buy Sept 67.50 put
Credit N/A...contingent on a breakout


BTU Bear Call (Aggressive)
Sell Sept 40
Buy Sept 45
Credit Was 1.60 (If I remember correctly)

Speaking of APPL, apparently we were not thinking as positive as we should have been. The price has stalled right at resistance. I wrote an article on Fibonacci Retracements for the website next week, and used AAPL as an example. Remember the magical ratio of 61.8%? Take a look at the chart...

This strong resistance level correlates with this magical ratio right at this moment. Interesting huh? I am working on another post to be done by later today. I'll be back later...

Wow Jeff,

What a great call on BTU!! Love that trade. I looked at aapl today, but it's not showing me the love... will have to sit it out for a while longer. Thanks for the great blog... it's a highlight on a slow day like today!

lisa

Do you do Fibs on most trades as a matter of checking support and resistance? Or are their some cercomstances where you put them on more than others? I'm tring to get into the habit of using them more, but want to make the best use of my time. OH, and by the way, where do you come up with these cool pictures?

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About me

  • I'm Option Addict
  • From Saratoga Springs, Utah, United States
  • I am a professional trader and an instructor for Investools. I've had relations with the markets for 9 years. Born in Concord, CA, but reside in Saratoga Springs, Utah. Father of THREE, Husband of one.
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