Nov $RUT 1160/1165 Credit Call Spread for 0.40
— The Lazy Trader (@lazytrading) October 18, 2013
This trade was entered yesterday as part of the November options expiration cycle.
Sell 4 RUT 1160 November Call @1.70
Buy 4 RUT 1165 November Call @1.30
Credit: 0.40 ($160)
Max Risk: 4.60 ($1840)
28 days to expiration.
The market's looking overbought now and chances become higher for a pullback or some sideways action.
Even if RUT continues in this uptrend, as long as it doesn't suddenly accelerate, the uptrend channel points to a 1145 high by November expiration. So, I consider my 1160 strike relatively safe (yellow horizontal line).
(Click on image to enlarge)
McClellan at +188
75% of the stocks are above their 200 day simple moving average.
All the stars are aligned!
Check out 2013 Track Record
Weekend Portfolio Analysis (October 26, 2013)
Weekend Portfolio Analysis (November 2, 2013)
Weekend Portfolio Analysis (November 9, 2013)