Some further trades done today as the index continues to flirt with rushing 3400. The outlook for the market direction is still fairly mixed but the bias is still up. A stimulus announcement will push the index to 3400 in my opinion.
Adobe Systems Stock (ADBE)
Next earnings are Sep 15.
Trade 1:
Sold 10 put contracts for Aug 28 expiry at the $410 put strike for $1.71 and I am offering 20 to 25 cents to buy the $365 put strike which will probably take today or tomorrow to get some filled.
This stock takes time to be able to buy the long puts but usually if left open for several days I can get fills.
The Put Options Selling Tool Analysis shows the stock as in a downtrend that may end. Put ranking is at 75 which is quite good but the $410 is not the suggested choice for put selling. The $405 is the choice. Click here to review the latest Put Options Selling Tool analysis for Adobe Systems, Inc.
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