Baidu bounced perfectly off of support just like I thought it would and it is now moving towards the 20-day moving average. The original strategy was to buy the Jan leap and wait for the stock to move higher before selling the near-term calls against the long position. This will turn the position into a diagonal call spread that we can work with over a longer period of time.
Options Oracle: 08/29/2012
Posted on August 29, 2012 by AJ Monte in Options Oracles
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