*****UPDATE 5/16 MID AFTERNOON*****
5/16  MID AFTERNOON——CANCELLED ALTOGETHER—————–NOT LIKING THIS PRICE ACTION TODAY, INSTEAD OF CATCHING A DIP, IT LOOKS LIKE A FALLING KNIFE——BACKING OFF
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******UPDATE 5/16 SHORTLY AFTER ORDER PLACED******
CHANGED ENTRY CREDIT TO .28 FROM .25
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You are entering a  Bull Put Credit Spread. I feel downside is limited to above 49 level in TNA until Fridays expiry.
THIS WILL ONLY TRIGGER ON FURTHER WEAKNESS.
Max loss is $75 per contract spread 1.00-.25 credit=.75
Max gain is $25 per contract spread.
Leg Action Contracts Option Description Price Duration
Leg 1 Buy to Open 10 TNA Put TNA May 19 2012 48.00 Put Credit 0.25 Day Order
Leg 2 Sell to Open 10 TNA Put TNA May 19 2012 49.00 Put
Est. Option Reqs: Creates Credit Spread: $1,000.00
Est. Trade Value: $250.00
Est. Commission: $11.95
Net Trade Value: Credit: $237.54
Funds required for this trade: $762.46
Quote TNA   50.98   0.16 Bid 50.98 Ask 51.01 Volume 6,808,895
TNA MAY 19 2012 48.00 PUT
TNA MAY 19 2012 49.00 PUT
Bid 0.40 0.60
Ask 0.45 0.65
Last 0.30 0.50
Change -0.35 [-53.85%] -0.50 [-50.00%]
Volume 428 32
Delta -0.23 -0.31
Open Int 1,109 703
Desc TNA May 19 2012 48.00 Put TNA May 19 2012 49.00 Put
Net Quote
Bid (natural)
0.15credit
Mid
0.20credit
Ask
0.25credit
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