IBM has been pulled back form 184 for almost 30$. After the news of Buffet reduce 1/3 of his position, IBM gap down but start to bounce back. RSI and CMO both showed oversold signal. I would like to set up this position long IBM.
Position:
Credit Put Spread: -1x, June 150/140,
Premium: 1.2$
Break Even: 148.8$
PoP%: 75%
Target: 50% of the premium.
In case IBM continue going down, I am ready to be exercised and get IBM stocks with $148.8 per share.
Position:
Credit Put Spread: -1x, June 150/140,
Premium: 1.2$
Break Even: 148.8$
PoP%: 75%
Target: 50% of the premium.
In case IBM continue going down, I am ready to be exercised and get IBM stocks with $148.8 per share.
Trade closed: target reached
Bought back at 0.6. Took $60 profit.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.