This morning, after a couple weeks of watching it, I pulled the trigger on XLNX setting up a June 45/44 credit put spread. I collected a .30 premium on 5 contracts, totaling $140 after commissions. I'm tying up $350 of capital on this trade, which is also my max loss.
This stock got PUNISHED after it's earnings report back on April 23rd. I've been watching it and waiting for the stock to find it's footing. A week or so ago it finally made a bottom at 45.19. So far that bottom is holding. It's also encouraging that CSCO, a XLNX customer, had a GREAT report yesterday.
Moving on to the WMT call spread I put on yesterday... Boy I tell ya, WMT had a pretty bad ER! I call it the trifecta of crap! They missed on the TOP line, the BOTTOM line AND guided LOWER! Ouch! Bad for my retirement portfolio, as I own a bunch of WMT, but good for this particular credit call spread. This play will more than likely expire worthless tomorrow and I'll keep the full $110 premium I collected yesterday when I put the trade on. Overall, I tied up $870 for a $110 gain in 2 days - that's a 12.64% return!