*****UPDATE******

THIS TRADE IDEA IS OVER AND CANCELLED, THE MOMENT HAS PASSED.

May7 10:37pm

The trade got very close to executing on my low-ball offer, it got all the way down to .83 cents mid-price during a nice little downdraft this am. I still did not chase the trade, but at close today the spread cost was around 1.18 credit to sell back, and reached all the way to 1.30 today. So had it executed, my scalp sale @1.30 would have executed as well. Which would have been .80 cost/1.30 credit = 61.5% profit in an intraday scalp play. Sadly it didn’t execute, but none the less NEVER chase a trade, as the market could have just as easily gone the other way today.

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Looking to catch a little weakness this am if it shows again and buy a FAS May11 97-99 long debit call spread. My limit will be @.80 buy currently its mid price cost is 1.02 @10:23am.

This is a trade that will reach a credit of 2.00 if FAS above 99 May11.

I probably wont hold it that long and will set sell back immediately after execution around 1.30 credit or higher, if we get a rally anytime later in the day it should trigger the scalp profit sale.

This is a low-ball offer trade that will only execute on medium weakness.

Type Action Qty Symbol Description Order Bid Ask

SPR

4/ 4 FAS DIREXION SHS ETF TR Debit $0.80 Debit
0.93
Debit
1.11
Buy to Open 4 FAS Call FAS May 11 2012 97.00 Call 2.76 2.85
Sell to Open 4 FAS Call FAS May 11 2012 99.00 Call 1.74 1.83
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