Trade Findings and Adjustments 05-30-2019
FCX
Why lose out on $0.61 of potential profit over a single PENNY $0.01
Or why lose out on 98.39% of the original profit potential over the 1.61% I’m missing
It comes back down to a risk to reward for my personal risk tolerance
I DON’T want to buy the shares which means I would be rolling short puts for a net credit for some time
I don’t like that it broke the $10 round and horizontal support level
Not sure how long it will be with out a China deal to move this stock higher
IF I had to do a trade Visa is it
BTO 162.15 share of stock
STO Jul 05-10 $165 short call for 2.68
Max Profit $5.53 or 3.45% ROI for 36 days
Break even $159.47 on a stagnant moving stock
Support around $159.26 and
Secondary or Adjustment would be to add $160 or $157.50 long calls for the next earnings
