Andrew Keene, of www.keeneonthemarket.com, offers up his Trade Of The Day:
Trade of the Day (TXN) 7.23.2012
Trade of the Day: Buying the TXN July weekly 27-26-25 Put Fly for $.22
Profitable: I make money on this trade if TXN closes between $25.22-$26.78 on July 27 , 2012.
Break-even: I break-even on this trade if TXN closes at $25.22 or $26.78 on July 27 , 2012.
Unprofitable: I lose money on this trade if TXN closes under $25.22 or above $26.78 or July 27, 2012. The most I can lose on this trade is the amount I bought the Spread for $.22.
Risk: $22 per 1 lot
Reward: $78 per 1 lot
Chart: Bearish overall , but looking for a good risk vs reward that it tests back lower and the measured move target of $25.73
Read more about futures by www.keeneonthemarket.com
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