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Monday, August 4, 2008
Matt's Trade Log - 8/4/08
Two small trades today so far:
FSLR - Short 2 SEP 250/260 vertical put spread
RIG - Short 3 SEP 125/130 vertical put spread
Both stocks appear to be trading at or near support lines. The RIG trade entails a lot of risk at this time because earnings are coming up on Wednesday. RIG earnings tend to do well so maybe the trade will play out alright. In either case, selling premium today allows us to take advantage of high volatility in RIG due to the upcoming earnings.
FSLR - Short 2 SEP 250/260 vertical put spread
RIG - Short 3 SEP 125/130 vertical put spread
Both stocks appear to be trading at or near support lines. The RIG trade entails a lot of risk at this time because earnings are coming up on Wednesday. RIG earnings tend to do well so maybe the trade will play out alright. In either case, selling premium today allows us to take advantage of high volatility in RIG due to the upcoming earnings.
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