Motorola tanked hard at the open after a poor earnings report last night. I exited the trade at the open since it well exceeded my target level when it was down almost 6% and I didnt want it to whilsaw to the upside like my MIK position did. But MSI continued lower towards -10% before find a floor. Regardless, it exceeded my profit target and me a nice 102% profit. Here is the trade summary:
MSI June 17. 67.5/75 put vertical bought at $2.24 and sold at $4.52 for 102% profit
See original post with trade setup here
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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.