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

Weekly Chart

SLB   Fundamental

Chart from thinkorswim, get FREE chart here.

Original post by Marubozu from My Stocks Investing Journey.