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VZ at 37.69
I’m looking for a move towards 35. I dont think this one is going to crash and I will use a put debit spread, risking 1 to make 1 with about 50% Prob of Profit.
Breakeven at expiration is 40 – debit paid.
Risk Profile:
Order Ticket:
VZ at 37.81
This trade has 14 days until expiration. I’m going to roll the long 40 put down to 37.5 strike, taking out 65% of risk.
Risk Profile:
Order Ticket:
VZ at 36.68
With 10 days until expiration, I’m going to make one more adjustment to remove all of the risk out of the trade.
Risk Profile:
Order Ticket:
VZ at 36.95
This is a closing trade. We had no risk in this trade after the last adjustment. This one is a small winner.
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