Closed TXN March 75/80 Call Spread +33% and +120%

Back on February 10, 2017 I posted the following chart and New Trade Alert on Texas Instruments (TXN).

I opted personally to go with the Call Spread for a cost of $1.78 per contract. But either approach worked well.

  • I closed 1/2 on February 27th at $2.37, +33%
  • The remainder was closed out on March 7th at $3.92 +120%

OK. So What’s The Next Trade(s) You’re Seeing?

With the S&P’s getting pretty extended when seen through various technical and fundamental measure, it is really key to be tactically long in here.

Here is what is on my radar screen now:

  • Possible long in TBT. We have had some good luck trading this the last 2 times with +1.1% and +7.8% gains respectively. However, until sideways chop resolves itself, I am on the sidelines. A break above $41.29 will be worth looking for.
  • We went long PDP yesterday at $45.05 as a proxy for the S&P’s and will treat that as a tactical long.
  • Also considering a Bull Call Spread in SPY
  • I don’t make a habit of trying to catch falling knives, but NZD/USD is pretty attractive off the .6920’ish level
  • Big move higher in AUD/NZD leaves it vulnerable to a possible move lower
  • Longs in USD/SGD
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Lastly, mark your calendars for May 4-6

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