According to my sources IBM is scheduled to report earnings tomorrow after the close. Therefore, I want to sell some call premium while its high just in case the report is bad. I have a target to sell the August 135 Calls for at least $1.00.
DUG is up nearly $2.00 at $34.50. There is resitance at $36.59 from the 200 day SMA and at $35.30 from previous highs established on the downtrend. DUG has broken out of its range and is showing it still has momentum. We should sell the August 40 calls at the $35.30 test.