Last week, a new spread trade in TLT has been initiated. A Dec 8th $129 call option and a Dec 8th $121 put option was purchased. The cost of the trade was $0.60 before commissions and fees. The goal of the trade is $2.00. A stop loss price has been added. Some of the reasons for the trade are below.
- Economic announcements continue through December
- Technically, TLT is expected to either head to 130 forming a W, or continue its short term downtrend and breakthrough 120 to the downside.
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