Roll $RIO Spread for Big Profits (FREE)
Our free spread is reading to harvest gains.
I was filled this morning with the following. We are taking full 165% profit off, leaving only little less than initial capital because the trade is at near term resistance.
Congratulations!
This roll trade was the option equivalent of “cut the position by half”. I don’t see 2021 resistance holding this move back, but a consolidation to about +20% of 200 dma seems likely. I any case, we have strong breakdown in the dollar in favor of a breakout here. New positions should wait for the breakout and short term back test of the 95 area. A 100/110 spread could be a great setup provided we have breakout confirmation. Stay ready.
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Beautiful trade- congrats! Would you have a recommendation on the ideal limit debit for this spread if one was entering here for the first time (not rolling). Also, just wanted to confirm that the spread strikes are intended to be the same, so you are essentially realizing the gains so far and repeating an identical spread?