Bearish day today due to worse than expected home sales. Was able to get out of position for 2.00 for a gain of .2 (+9%)
7/22
Appl at 162.02 29.81% vol with 24 days till August exp.
1. Selling Aug 165/170 Call Vertical for Credit 2.18
2. As a bearish retest of the W%R -75 level.
Risk Management
1. Exit if close above high of 7/22/08 (162.76).
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