Thursday, April 7, 2016

Elliott Wave Options Signals - Closed VZ Put Spread at 35% Profit in One Day

Elliott Wave Options Signals - Closed VZ Put Spread

Well I didn't even have the chance to post the trade setup before this bad boy plummeted to near my target area.  I mentioned that I went short in a quick post, but I did not detail the chart or trade.  I still anticipate it falling further to $51.40 but when trading options I do not want to waste a sharp move in my direction that comes this close to my target.  So I closed the position at a 35% profit.  Here was the trade:

Buy to Open VZ May 20  50/55 Put Vertical @ $1.88, then sold today at $2.53

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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.

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