August 24, 2015  Trade Alert #2 -  Pattern Play  Portfolio – LIMIT ORDERS – Changed Strike

The stock moved higher before we could get our order in and these prices are not available.  To keep our total cost under $1200, we will lower the strike on the sell side of the second trade:

 

BTO 1 SVXY Oct1-15 65 call (SVXY151002C65)

STO 1 SVXY Aug4-15 68 call (SVXY150828C68) for a debit limit of $6.00 (buying a diagonal)

 

BTO 1 SVXY Oct1-15 70 call (SVXY151002C70)

STO 1 SVXY Aug4-15 73 call (SVXY150828C73) for a debit limit of $5.80  (buying a diagonal)

 

If these don’t execute in 3 minutes, raise the debit limit by $.05 and try again for 3 minutes, and repeat this process until an execution is successful.

 

Happy trading.

 

Terry