ORCL Trade

This morning I took advantage of the post ER 5% drop in ORCL by setting up an August 41/40 credit put spread. I played 10 contracts collecting $470 in premiums after commissions.

I set this trade up ITM (in the money) because I believe the share price will rebound. I'm just not sure when it'll happen - that's why I played it out to August.

Either way, for all you folks out there finding this blog for the first time, I'm the Option Rider. I play with a wide open hand, for better or for worse! Please feel free to look through my open positions, my winners, AND my losers. Any advice, thoughts, comments or helpful tips are welcomed at theoptionrider@gmail.com.