Schlumberger Limited (SLB) Trade Idea

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Trading Strategy: Short Call Spread 82.5/85

  • Direction: Bearish (Rejected at Up Trend Channel Resistance)
  • STO SLB Sept 13 82.5 Call
  • BTO SLB Sept 13 85 Call
  • If  the up trend channel resistance (about $85) is broken, close short leg if more than 1 month before expiry, to repair the trade (but need to analyse the potential risk of incurring more losses).
  • Entry Price: $82.83
  • Breakeven Price: $83.58
  • Max Profit: $540
  • Max Loss: $710
  • Reward vs Risk: 0.76
  • Probability Price Below Breakeven: 67%

SLB Chart

Daily Chart

SLB Aug7-2013

Weekly Chart

SLB Weekly Aug7-2013

 

SLB   Fundamental

SLB Fundamental Aug 7 2013
Chart from thinkorswim, get FREE chart here.

Original post by Marubozu from My Stocks Investing Journey.

 

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