Closed my MGM July 20 put for $1.63 (bot @ $1.00) for .63 cent profit. As I stated in my last post, I could have waited to enter the position on a touch of the resistance at 12.80 but this was a low risk entry as well with a stop placed slightly above the 12.80 resistance and I was assured to not miss entry if it dropped from there. I set a day stop at the low from May 25 because it seemed a good technical target if it mad a parabolic move down. It did and my stop at 11.03 was triggered. It closed an hour later at 11.01 - Pretty darn good call. Odds are that it will bounce tomorrow offering a chance to get back in the position at a better price or there may be trades that offer better risk/reward. It is up to 11.08 in after-hours trading. If it continues that bounce, I will look for a break of 11.01 to re-enter or if it retraces all the way to 12.80 we'll do it all again.
MCO continued it's drop to my target of 17.72 but it's drop seems to have slowed so I may look at exiting tomorrow or institute a trailing stop for my set stop.
My DIA and SPY bear call spreads are looking good they are both down to .04 and I have a buy stop set at .02 cents to close them out before OEX and commission free (ThinkorSwim doesn't charge commission on options bought back for less than .05)
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