I placed a VERTICAL BULL PUT SPREAD trade on MNTA instead.
Gained a credit of 35 cents. Theta decay is my hope as usual on a Credit Put Spread.
SOLD JAN $7.50 (QMPMU)
BUY JAN $5.00 (QMPMA)
Credit of 35 cents, on 10 contracts, $350 less commish. Hoping for a hold above the higher strike of $7.50. Stop loss at $7.20 underlying issue.
I see some support at $9.35 to $9.40 and also at $8.45 to $8.50. Hopeful that support holds and the spread will expire worthless.
I am playing a ton of CREDIT SPREADS on the put side as THETA is my friend.
Dave
p.s. Sorry, I am new to the forum and have been trading options for 10 years.
Gained a credit of 35 cents. Theta decay is my hope as usual on a Credit Put Spread.
SOLD JAN $7.50 (QMPMU)
BUY JAN $5.00 (QMPMA)
Credit of 35 cents, on 10 contracts, $350 less commish. Hoping for a hold above the higher strike of $7.50. Stop loss at $7.20 underlying issue.
I see some support at $9.35 to $9.40 and also at $8.45 to $8.50. Hopeful that support holds and the spread will expire worthless.
I am playing a ton of CREDIT SPREADS on the put side as THETA is my friend.
Dave
p.s. Sorry, I am new to the forum and have been trading options for 10 years.
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