Hey gang, what do you think of this play (prices as of close 8/10):
IBM - 118.70
STO AUG 120 for 1.23
BTO AUG 125 for 0.15
Credit 116
Risk 384
Probability (from OX) 72%
I will be watching this morning and making my decision if these numbers hold up. Looks like IBM is ready for consolidation or a pullback.
- Jeff W
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