Elliott Wave Options Signals - Closed CPB at 19% Profit

Campbell Soup (CPD) took about two weeks but finally sold off and hit my target area so I closed the position today.  It was not a barn burner trade as it only yielded a 19%.  However, the risk/reward on this trade was quite favorable.  I take what the market will give me:

Entered put spread at $2.25 and sold it $2.67 for a $0.42 gain (19%), 

HERE IS THE ORIGINAL POST WITH TRADE SETUP:

Campbell Soup (CPB) is in a similar scenario as BKH in that it is about to undergo a C wave within a 2nd wave.  Here we have wave (c) within wave ((ii)).  I uses wave relationship Fibonacci analysis between wave (a) and (c) as well as Fibonacci retracement levels of wave ((i)) and we can see a confluence of support between $61 - $62, so my target will probably be in that area.  I placed a vertical put option spread for this trade:

Buy to open May 20  60/65 Put ($2.25)

Please support the blog and like this post :-)

PLEASE NOTE: THIS IS AN ELLIOTT WAVE BLOG EXPRESSING AN OPINION AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. TRADE AT YOUR OWN RISK.