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Wednesday, August 20, 2008
Matt's Trade Log - 8/20/08
One trade today: Sell 5 SPY SEP08 123/124 vertical put spread. SPY seems to have found some support at around $127. The longer-term support line looks to be at around the 123-124 range. Selling the 123/124 vertical put spread for $.30 gives us a probably of 70% on the trade and puts us in a reasonable position compared to the longer-term support line.
I thought about buying more SLV today but decided to wait. $13 seems awfully low given the low supply of silver available and the high demand for silver. Maybe tomorrow.
I thought about buying more SLV today but decided to wait. $13 seems awfully low given the low supply of silver available and the high demand for silver. Maybe tomorrow.
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