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MU at 80.02
I’m looking for a move higher with a stop under recent swing lows.
Chart:
Order Ticket:
Risk Profile:
Risk: $6.65
Reward: Unlimited
Profit Target: 30-40%
Stop: Under 74MU at 83.06
I’m going to Sell To Open 20AUG 82.5 Call against my long 80 Call to convert this position into a 2.5 point wide Call Spread.
I’m going to take out all of the risk out of this trade. Here’s the math:
I paid 6.65 for my long 80 call. I am collecting 6.80 by selling 82.5 call and this leaves me with a NET credit for this spread. This means that even if MU expires below 80 by August expiration, I cant lose any money in this position. My upside is capped beyond 82.5 and the most this position can make is 2.5 ($250 per 1 spread) plus the 0.15 credit on the downside.
Order Ticket:
Risk Profile:
MU at 81.02
I’m going to take this trade off and look for a new setup
Closing Order:
STC $MU 20AUG 80/82.5 CALL SPREAD MID 1.17 CREDIT
TOS: BUY 1 -1/+1 CUSTOM MU 100 20 Aug 21/20 Aug 21 80/82.5 Call/Call @1.175 LMT
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