Time to think about taking the money and running on last Tuesday’s trade of the day.
With our $1.50 put at $5.40 (350%) this is no place to get greedy. I am putting a stop at $5 just in case it breaks the 200 dma of $39 but, with the stock already hovering at 3% down today, I’m not that sure it will keep down this trend. From a straight stock perspective, a break above $40 would be a surprising change of direction
I’m confident enough that I’m willing to bet 10% of my gain but not more than that. If it comes up I will be happy to reenter with a longer put.
This trade will pay for a really nice Vegas vacation but we are not done milking this cow!
