There are two ways to trade this. One is to short TSO to $73.40, and if the resistance holds, go long until $77.90. That's too risky.
You can do that, but I'd rather play this as a straddle. Sell the $70 puts (1.25) and $80 calls (1.31) September calls.
Max Profit: $256 per option.
You can do that, but I'd rather play this as a straddle. Sell the $70 puts (1.25) and $80 calls (1.31) September calls.
Max Profit: $256 per option.
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Everyone make money today? Good.
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Wow that ripped past resistance. SLD at resistance. Don't be greedy!