Dear Bottarelli Research Member,
Yesterday afternoon, I issued a super-fast downside play on WebMD (WBMD – NASDAQ). I said that I expected to implore a quick trigger finger on this one, and that’s completely the case toady. As I write, WBMD is down over $1.00, pushing the WBMD August 40 Puts (QWB TH) that some fast traders entered for $2.85 all the way up to $3.70 to $4.40. That’s a solid 40% gain in one day, so if you were able to enter this play, it’s time to take your profits now!
PLAY: Sell the WBMD August 40 Puts (QWB TH) at or above $3.70, good for the day.
Current bid/ask spread is $3.70 to $4.40, so you should shoot for a $4.00 fill price and scale down if that does not trigger.
Lock and load