While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to the six-month time frame, Mad Day Trader, provided by Bill Davis, will exploit money-making opportunities over a brief ten minute to three-day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
I am going to suggest you book the profit on the QCOM debit spread position.
We probably could hang onto the position a little longer, but with long short dated options, I am real quick to pull the trigger.
Here is how you close the position:
Sell to Close July 19th - $75.00 call @ $1.35
Buy to Close July 19th - $78.00 call @ $.27
This will result in a profit of $37 per spread if $370 you traded the suggested 10 lot.
The return will be 52% for 4 days.
