TESTIMONIALS . . .
Mike – There is not a day that goes by that we do not think of you and are thankful for the introduction to this world of non directional trading. I urge all traders to take your course and then begin to think and trade for themselves – and use the creative license you allowed us to receive. – Ron
Mike – You should be very proud of your performance, and I just wanted to thank you for teaching me your strategies. – Lee
Mike – I fully value and appreciate your candor, strategies and insight. You simplify what others try to complicate. I have gleaned a wealth (full pun intended) of information from both your newsletter and class. – Gene
July 28, 2010 – TRADE ALERT!
TRADE ALERT!
Good Morning Team,
With almost four weeks left to August expiration, let’s put on another Core Portfolio position.
The S&P 500 is trading at about 1,109 and seems to have leveled off – at least momentarily.
Sell 10 SPX August 1015 puts – delta: .10
Buy 10 SPX August 1005 puts
Credit of about $.60 ($600)
Total net credit of $600. Maintenance is $10,000.
If the market bounces back up, we will put on the single 1005/985 bear put spread for less money. Plus, we’ll also look to possibly put on the call side of a potential Batman Condor.
Again, be careful. You may get a little more or a little less depending where the S&P is trading when you try to place the trade. Don’t get greedy.
Trade smart,
Mike
