AUTHOR
Allen Cruz - CFOT, Trading 101
Prior to President Trump's speech that moved the market today, a few members of our team were short Lockheed Martin Corporation (LMT). This was one of the stock that was impacted by his speech. My analysis suggested that this stock was at a point where it was prime to short PRIOR to Trump speaking.
Based on this analysis, my entry point for this position was when price broke below $257.50, using directional options to execute the trade. The entry price I paid for the $252.5 puts is noted below $1.10 per contract.
Based on this analysis, my entry point for this position was when price broke below $257.50, using directional options to execute the trade. The entry price I paid for the $252.5 puts is noted below $1.10 per contract.
The move that occurred today propelled this stock (LMT) to my Profit Target. Price action was creeping slowly to my area of interest where I wanted to take profits, as it was doing this I began to scale out of my position. Covering my puts at a few different price points.
I sold a mojority of my $252.5 puts for $2.75 per contract
Trade Duration: 2 Days
I sold a mojority of my $252.5 puts for $2.75 per contract
Trade Duration: 2 Days
