I use a combination of support, resistance, Fibonacci
retracements, volatility, and credit received to generate myself income. I drew
a Fib line from an extreme low to the extreme high. Then based on volatility,
and credit received I sold a vertical call spread.
Trade: 58/60
Vertical Call, above previous high, and since it’s reaching previous highs on
weak volume, it won’t be able to break resistance.
Required Capital: $1500
Return on Cash: $600
Contracts: 10
Duration: 8 Days
Total return: 600/1500 = 40%
Go for rich,
Ronald
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