Don't you just love that Google is getting nailed -- at least for the moment? Probably won't last long, though. I know a few CPTI students put on a straddle prior to earnings. They did quite well.
But, here, in the more conservative part of the trading world, I've found another trade for our March portfolio.
Sell 15 March RUT 660 puts - RUYOL
But 15 March RUT 650 puts - RUYOJ
Credit of about: $.40 ($600)
Sell 15 March RUT 790 calls - RUTCR
Buy 15 March RUT 800 calls - RUTCS
Credit of about: $.50 ($750)
Total net credit and profit potential of $.90 ($1,350). Maintenance is $15,000 (IF you have the right broker). Maximum profit range is 660 to 790.
Remember, premium may vary by the time you put in your order. You can also put the spread orders on separately, which may increase your chance of getting filled because of the market bouncing around.
I think the market still has more upside, but getting up that high (790) would be quite a an accomplishment. Not real likely. Some of you may want to put on the bull put and wait to put on the bear call spread. Be creative, but be careful.
Good luck and trade smart!! Always double check the option symbols before you place your order.
P.S. By the way, for you procrastinators, there are still spots left for this weekend's Atlanta CPTI seminar. Contact me at Contact Support and I will get back to you quickly.