Ricardo Espinosa Rangebound for the rest of the week, STO 50 SPY weekly 134/132 put spreads and 140/142 call spreads, iron condor for 0.25 credit each.
4/24/12
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Josh Krause: Rangebound? Really? Through the FOMC meeting? That is quite the call.
4/24/12
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Ricardo Espinosa: Yeah, I think it´ll be a non-event, like it has been these last times, although a QE3 announcement will make us rally to 1450.
4/24/12
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Ricardo Espinosa: Big range tho,from 133.75 to 140.25, we´re in the middle of it, and most I think it can drop is around 133.85, 2nd fibo support, 1st held ok
4/24/12
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Josh Krause: Well, it is possible, your condor is far enough out that it might be ok. Though look at the FOMC minutes and how much they moved us.
4/24/12
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Josh Krause: They were expected to be a non-event and moved us measurably. An Apple disappointment with FOMC disappointment, Hello sub 1300.
4/24/12
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Ricardo Espinosa: That iron condor almost went bad, but was far enough on the calls, I was gonna tighten it more but greedy=not good, profitable at the end.
