XME call spread option trade
Updated
XME is a weird one, ill be honest. on the Weeklies, the trend is up, but on the dailies its starting to look very top heavy. MACD is signalling a sell, The one bright thing here is that we are near some major support, last attempt bounced this baby for 12 days. A break below this lever will open up a clear move to the 27 handle... The idea here is to Sell a Call Spread in June -32/+35 with mid-price of 45 cents. Thats an ROI of 15% for a 59 day hold Trade active
initially I got $42 for this trade, which was below the midprice... The trade is currently valued at $30...
Note
currently trading at 10 cents... I will look to close shortly, as 10 cents is not worth the 3$ risk anymore.
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