With the volatility going further down it is certainly more challenging to find great option trades.
I was able to close 6 of my deals with decent profits so my week was a success but at some stage I expect the volatility to jump again, which could stress my remaining positions.
For those, who are new to my daily market comments, I place and document one trade a day with the objective of helping everyone learn how to trade options.
What's my trade for today?
#MU (#MicronTechnology). The stock dropped a bit today and it's trading near it's recent lows so I thought I would try my luck with $51 put expiring in 2 weeks. I did not want to go out to Jan to avoid earnings. If we see a bounce up next week then this will most likely be a quick trade. If it doesn't work out then I can simply roll it to Jan.