My Trading > My Trading Journal > August 20, 2012
My Trading Journal
August 20, 2012
4:23 pm (PST)
ANN Taylor (ANN) is overbought. It gapped up from 28 to 34 last Friday, and traded a bit higher today. The stock is also over-valued. I sold 200 September 37/38 call spreads @ 0.12. The premium collected is $2,358. The total risk is $17,642. The maximum return is 13.4%. This is a very ice return considering that the stock is 7.7% out-of-the-money with only 4.5 weeks until expiration. Typically, you will see a return of about 5-7% return in this situation. You can see in the chart below where the expiration and my strike price is.
I also tried to get filled on a Undar Armour (UA) 62.50/65 call spread but missed. I was hoping GPS would come back up but it didn't.
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