Congrats googlers, bull put credit spreads

Published on February 22, 2007

Congrats googlers, bull put credit spreads

February 22, 2007

I don’t go too much into the technical analysis except the very obvious ones like support, resistance and fibs. Recall just before the Feb expiration I talked about Google finding support at around 460 area (at the time of writing it was 456), see to to believe yourself here since then Google has risen by $27 (trading at $482 around 10:15am). A simple bull put spread (so that you are not risking a lot) would have yielded beautiful profits. One may argue that this may have gone otherwise as well (but that’s why we play spreads so the risk is less). Nothing to blow trumpets about, this is just for illustration purposes only to show the power of option spread trading combined with simple technical analysis. Check out OP’s hall of fame for some of the masters in Technical analysis and combine that with option spreads, to find great results. Cheers to all those googlers, Profitable trading, OptionPundit

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