Despite stocks moving higher this week, many stocks have been under distribution which is a bearish sign. We want to take this opportunity to take profits on our long positions and cut losses on our short positions.
- AAPL – 22% Profit: Long May 18 170/190 Call Verticals @ $8.13
- ETFC – 43% Profit: Long May 04 54/61 Call Vertical @ $3.79
- SLB – 68% Loss: Long Apr 27 60.5/67.5 Put Verticals @ $0.85
Webinar Thursday @ 4:15PM Trading Debit vs Credit Spreads Register Now!