Long Verticals Nuts & Bolts | Technically Speaking: Trading Stocks & Options
[Music] [Music] welcome everybody to our webcast on technically speaking trading stocks and options i'm connie hill i'm happy that you would join me here on this beautiful september day just want to shout a quick hello to some of those folks that were in the chat here bright and early as they many times are uh hello to vijay wayne doug brenda anthony kathy veda happy to see you joining me here today i'm also very happy we have in the in the chat barb armstrong she's a great veteran of the market she knows what she's doing between the two of us we hope to answer all your questions so don't be shy those of you that are here live type those questions in and then those of you listening to this on a recording just know you're welcome to join us live but if you have questions type those in the comments section and i'll go back and refer to those and answer those questions throughout the week now today our topic comes from one of you and i say it comes from one of you because somebody uh paula s left me a message in twitter and she said you know can you point me to some of your classes maybe where you've taught debit spreads otherwise known as long verticals and i went back in the history looked around a little bit and there wasn't a session i could point her to to give her a lot of information where we followed up on those trades so today that's going to be our focus is debit spreads those of you that are stock traders i've got something for you here as well so i don't want you to think you're going to be left out because you won't be all right well i am on twitter and uh fortunate that paula was able to contact me there here's my handle at chill underscore tda barb you'll want to follow her as well she is b armstrong underscore tda and that's how we can communicate with you primarily is through twitter and by you leaving comments on our webcasts well what we talked about about today is intended for educational and informational purposes only it shouldn't be considered investment advice or recommendation of any security strategy or account type options are not suitable for all investors as a special risk inherent option trading may expose investors potentially rapid and substantial losses while this webcast discusses technical analysis there are other approaches including fundamental analysis and they may assert different views past performance of any security or strategy does not guarantee future results or success uh please no soliciting no recording we'll take care of the recording you take lots and lots of notes we're happy to have your jot down as much as you would like now let's just take a quick look here at our agenda number one we're going to talk about what long verticals are this is an intermediate level class but i know we've got some newer folks that come in and join us all the time i want you to feel comfortable knowing what that is i want to talk about some considerations for long verticals of course we're going to do some examples here today several in fact and i need to review a couple of things in our paper example portfolio that need some attention so let's dive into what exactly is a long vertical well i'm going to take you over to think or swim for a moment and i'm going to bring you up to a chart of lululemon although i think if you're going to say it properly it's lululemon i don't know if i got the accent completely right but that's uh the stock we're looking at here it's a stock that has been in what kind of a trend if i zoom in here well i should say been in a decent downtrend for several months and then recently kind of bottomed out and it's been trading bullishly in this nice little channel and today it broke through some resistance horizontally there's some pretty decent volume on it so far today i'd like to see some more to have it be a convincing breakout nonetheless it's in this channel and it still has some room to go up before it reaches the top edge of that channel so somebody might consider doing a long call vertical here now what exactly is that let's maybe focus here for a moment let's focus on the october options here if somebody wanted to go along they could do what they could just come in here and buy one of these options i'm going to do the 340s that's our at the money it's the closest price to the current price of the stock yeah we're looking at a pretty expensive two thousand dollar contract so it might not be in everybody's budget to maybe have a do a long call just on its own and so that's why they might consider doing a vertical where we would buy the long call and then sell a call out of the money to help offset and bring down that cost of what's your out-of-pocket expense so here i'm going to do a right mouse click we're going to say buy vertical and think or swim is smart and nice and it's going to size that up for us it'll just go and grab the next strike price in sequence it's an expensive stock so they're the spreads here are 10 wide and right now it's saying the price on that would be about five five dollars so five five a hundred dollars is a lot better than two thousand dollars if we were to buy this 340 call out right and that's what makes it a vertical all right now i want to mention to you that we teach a class very specifically on long verticals john mcnichol in fact taught it a little bit earlier here today he taught that beginning at i believe it was 11 eastern time i don't know if it's been uh posted to the website yet but if you are really specific and saying hey i really want to understand this strategy well two things one learn up from barb armstrong's getting started with stock investing and then for that practice and follow-up go to john's class and i should say the getting started with options barb's class is on tuesdays at noon okay that's the time you want to be in there now if you maybe missed that class or you're like okay i want to see how to do that i want to show you where to get the archives many of you know but that question always comes up where can i find the archives so let's just spend a little moment doing that i'm here on my td ameritrade account we can also use the education from the thinkers one platform to get to this area as well we'd come into education and if we're looking to find the course itself come over here to options it's going to be this first option course that comes up here called and well actually this is a couple of little short videos and we've got three of them sitting here i'm going to scroll over trading options is where you're going to find that strategy long verticals there's long call verticals and long put verticals okay so there's where that information is now the archives let me go back up here to education and click on webcasts we have our upcoming webcast some of you are really familiar with this menu and that's the way that you come into our class here looks like it's stalling here for a moment but the old classes right it's showing hey we're live here somebody logged in they could join here for now but the archived webcast you just select on that little tab there and i told you it was done i don't know if i told you it was john mcnichol teaching that class and so it's more of an intermediate level class and so in your level you'd pick here intermediate and it'll show some of the different intermediate classes and it doesn't look like his is posted yet looks like cameron may who kicked us off this morning uh his class is showing up and then john should be posted here pretty shortly you can also come over here and just select john and then you'll see when he's taught about this in the past so for example uh here he's got long verticals and open trade management okay that's what he taught last week september 1st okay so want you to be acquainted with that these are such fabulous resources all right let's move on here i'm going to head back to our slides and i want to talk about this considerations to trading long verticals what are the different things we want to think about and then i'm going to bring that information in to some of our setups that we look at all right first things liquidity what's liquidity ease of getting in and out of an option we want there to be some open interest and possibly today's volume might help impact that if there's been a lot of volume activity remember that just represents today's activity and open interest is the balance of contracts so we're we're going to be doing two legs here so we want to make sure there's a lot of trading activity we don't want to be stuck with a contract that has say 10 open interest contracts that's not a whole lot to exchange contracts with something else how much money you have to spend now uh i showed you that contract of lulu is going to cost 2 000 bucks to get into and so those of you those of you that are trading smaller accounts just going long might not really be an affordable solution if you've got small amount of capitalist found or i'm also going to say if you're newer and you're trying to contain you're trying to minimize how much out of pocket expense you have well you know after you paper traded and and you kind of feel like you're learning and you want to dive into it yeah cutting down that expense will help now also what if you aren't interested in just going all the way long maybe you're a little hesitant on the trend of a stock or the strength of the market uh say in a bullish position yeah you might want to have that hedge position and not only have your net out of pocket expense lower but put yourself in a situation where the stock doesn't have to do exactly what you think it might do so quickly we want to pay attention to the trend of the stock all right most of our trades are going to be directional to some extent with long verticals you can construct it as conservative as you want or as aggressive as you want but generally you're going to be following the trend talked about the price of the stock if it's really expensive how that might come into play with long verticals and help you out and then one thing to consider here which is different than credit trades credit spreads with credit spreads if you want you possibly don't have to close out the trade it could expire worthless and you don't have to do anything with debit spreads you must take action to lock in those gains you have to sell that vertical at some point before it expires to really capture the gains that you've made on the spread all right so keep those in mind i'm going to point back to them as we look at let's clear the screen here as we look at some possibilities here we're going to go back to thinkorswim and we are going to start with lulu now i kind of queued up that trade on lulu for the month of october but we can see so far today lulu's traded at 1.3 million so that's a good sign would find some liquidity another good sign would find liquidity is that it trades enough to have more than just the monthly options okay it has also some weekly options which not all stocks have but those that are a little bit more liquid and have that activity they have the weekly options so you not only have the monthly expirations like this one up here on the top we have some weekly so there are some options that would expire tomorrow as well as next friday and then these are the next few fridays out in september and october before coming upon another regular monthly now some of you might be a little bit new to why do we have these weeklies and they are to help you be a little bit more precise in what you're trying to do uh and we're gonna we're gonna do some comparison here with a weekly and with a monthly generally speaking the monthlies may not have as many choices of strike prices but generally not always but generally they are going to have more open interest as you look at the open interest column here here's the puts over here and then if i open up say for example this one here the october 7s looking at the open interest column yeah we're looking at contracts in the single to double digits rather than getting to the triple digits sometimes those weeklies are not as liquid there's not as much activity taking place there all right so let's start out here we're going to look at lulu and we're going to look at a couple of different trades that we could put on uh first of all we're going to mainly focus for this we're going to focus on strike price selection so we're going to use these octobers they are a little bit more liquid when you're looking for verticals you want to buy or sell in the neighborhood of 20 to 50 days worth of time this is kind of at the far end of the spectrum but still qualifies even though it's a little bit further out i should say these i those aren't the ones i want to use i want to use the month so okay they could go out as far as 50 days ah here's the ones i really want to use the octobers now we can see decent open interest and it's a real expensive stock and it would be nice instead of paying two thousand dollars for the trade to pay somewhere in the neighborhood five hundred dollars in the trade now i've got my blast all up here blast all basically means line up these trades and when you're ready send them all off together the way that i typically use it will allow us to do some comparisons okay so let's look at this one first and talk about kind of the max potential gain max potential loss that we would have in this max potential loss is going to be whatever our dividends okay in this case in the neighborhood of 513 dollars our max potential gain is going to be the difference in the strikes which is ten dollars minus how much we're spending here and so that's going to say what we would be uh having to gain theoretically four dollars and 87 cents so it's pretty close to risking a dollar to make a dollar let's calculate here the rate of return and to do that i'm going to pull up my calculator and so we're going to say put in the calculator the max gain divided by the max loss so we have 587 i'm going to come over here and lock this in so it doesn't wiggle around on us so 487 max potential gain divided by 5.13 oh i must have moved my mouse out of the way let's just keep it in here and try it again so 487 divided by 513 gives us if the stock really were to go beyond its short leg which is 350 that's about a 94 return compared to some of the credit spreads we set up that's a pretty healthy return isn't it in fact let me collapse the watch list and i'm going to put some data out here so if we do 340 and 350 that is about a 94 return now some of you might be thinking well i don't have to have that big of a return to make this trade worthwhile is there something we could do maybe a little bit more conservative and the answer is yes in this case because the short option is 350 we would need lulu to move about seven dollars up to get beyond our short strike price of 350. now let's go to the chart here for just a moment and let's just show you where 350 is i'm going to use my price here my price level icon it is about come on price level it is about right there i'm just going to kind of put it in as close to that as i can without changing it now is that a big move not really would that still be inside our channel yeah it's still likely would be inside the channel even if it popped right up there tomorrow not that it necessarily will do that okay so that's one thing to keep in mind we're looking for a move if we want to be more conservative let's do this let's set up doing something in the money where we're going to start with our strike price and in this case we'll go 330 and 340. so i'm going to buy the vertical here and we're going to compare the two i'm going to lock this in so it doesn't wiggle around up for us and it is going to cost us more it's going to cost us almost dollars which means on the pop on the max theoretical gain it's going to put that out of what about 405 or 405 dollars per contract that we do so that's a little bit different uh let's do our return percent here so if our max potential return is 405 we're going to divide that by our net debit our max potential loss theoretically uh 5.95 and that's going to be about a 68 or 68 return so i'm going to put that here and i'm going to put in get the mouse in the right spot 330 340 long vertical now what would the stock need to do in order for that to be a profitable trade well we would need it to expire at 3 40 come options expiration day and i'm going to say keep in mind typically we want to get out before options expiration day when we get a chunk of the gain we're going to want to get out early right rather than maybe leaving it to fate that you're trying to catch it we'll show that here in a moment so 340 is where the stock would need to be beyond where is it right now well right now it's at 342. it's already
beyond that strong price and already both of these options are in the money okay so that sets it up a little bit more conservatively and so you could maybe just make a decision based off that i'm gonna i'm gonna draw in here where 340 is oh that's about as close as i can get it it's a penny away and we can see yeah the price of the stock is over that already now i'm going to let you vote on this this is going to be your own personal preference there's not a right or wrong which one of you would prefer the more aggressive spread that i showed you first where the price of the stock has to get above 350 so some definite movement has to take place or how many of you would prefer the more conservative one we still get about a 68 return but if the price of the stock just went sideways for the duration of the trade it still would stay in the money and that's where the profit uh profitable point on the trade would need to become options expiration day so go ahead you vote i'm going to look and see if there are questions in the chat that i need to answer you know judith that's an interesting question judah says i'll just read this out loud for those of you that are not here live judah says uh connie or barb connie and barb when would you favor the market maker move amount over the atr if at all i'm going to put in my two cents here judith the market maker move this doesn't have one up right here but many times some stocks not all stocks but some stocks are going to have this little lamb here and is considered the market maker move and it's essentially what is the market maker pricing into the option uh right now uh how big of a move how much is that implied volatility kind of hinting at the move it's only typically done before stocks are going to announce their earnings or have a big announcement all right and so the atr can be good for just general market conditions the market maker move is specific for an event and so barbie answer well it kind of depends on what strategy you're talking about but just the use of it i would say just know that market maker move is for events coming up all right so i'm gonna i'm gonna survey the the uh opinions here so doug thinks the more conservative theta thinks uh the the same thing uh rebecca likes the more aggressive dave likes the more conservative as does mary as does pr all right uh so it's not a right or wrong it's just your own personal preference now i'm going to take what you said as the personal preference we're going to go with the second option the 330 340 i'm going to delete this one and then we're going to put in a buy back order we're going to say hey if we get a majority of this spread let's not dink around and risk more now that we have quite a bit of the gain we're going to say get us out we're going to try and change this to a first trigger sequential because our theoretical max loss could be in the neighborhood of about hundred dollars if uh everything in the world went wrong uh we're only going to do one contract because we typically only want to risk about 750 per trade in our class so we're going to create an opposite order here and i'm going to show you how you calculate what that would be now we said 405 was the max theoretical gain well what if we can get let's say 4.05 times a percent right now let's do 80 so if we can get 80 of that uh that says the gain 80 of that 405 equals about 324 and we're going to add 324 to the net debit price 595. i think i may have missed a little decimal there and so this is the value that we're going to go by the spread back at we're going to just put an order in here let me see if i can tag on to that 324 plus 595 and that says yep we would want to go buy it back in the neighborhood of 9 19. we're going to put that in we're going to make it good till cancelled and notice it's going to be a limit order it's not a market order so it's going to wait till the value of the spread meets that condition and then boom it's going to go execute it for us you can be out walking your dog having an ice cream cone whatever it is you want to be doing having a diet coke will give something doffs at the ice cream and the system will go ahead and execute it you don't have to try to capture it which is one of the advantages to putting in your order at the time that you put in your initial order put in that exit order as well we are going to put this to our class of trading stocks and options so we can monitor it in there and i expect we're going to get filled on this pretty soon we'll we'll let it wiggle around now any questions on that one necessarily all right i'm going to give you another example here uh we're going to go to another chart that i'm going to show you a pan well actually let's do this one first let's do plug now plug is a lower price stock all right those of you that maybe are stock traders might take a look at plug and note hey maybe that's a stock worth pursuing based on the technical setup that we're seeing right here right now now this recently uh started becoming a little bit more upward trending it had this pullback like so many stocks have done throughout this year right and then it bottomed out and it started making higher highs and higher lows looks like there's some resistance up there at 31 and change but there's quite a ways away from it and the stock you know some might call this an equal high up here but it's and it did form a little bit of a lower low some might consider that an equal low nonetheless we've got a close above the high of the low day yesterday and a little bit more continuation today so the uh entry signal that some people might use would be that kaholt now it's not expensive right so we don't necessarily have that consideration of gee i'd really like to do a less expensive stock uh right instead of two thousand dollars in the contract we created the vertical in lulu what would we have to do here it's going to be a different scenario here okay so we can look at these october options which we've got a lot of great liquidity here if you wanted to do a credit spread with the puts or along vertical with calls i'm going to open up here also the october 7s they have about 30 days worth of time and we're going to compare same strikes or similar strikes but different time periods and show you how they're different now we're going to do the same thing here we're going to do a long vertical uh here the price of the stock is a little bit above 28 and so i'm going to do a 28 29 right here we've got a 50 cent here however i'm going to spread it out a little bit more than that so i'm going to do a right mouse click by word actually instead of going to vertical let's go deep and wide and i'm going to do one month two strikes and that means spread it out by two strikes instead of the default of one strike that will get us our 28 29. now i'll pick vertical and you'll notice because we put that two white it skipped over the 28.50
so on this we've got 29 now there's not as much activity here as somebody might uh might opt to go for the 28 28 50 just so you do have some decent open interest in fact for our purposes i'll go ahead and change it back this is really low open interest and we might be doing several contracts here because the net loss could be a lot different it could be significantly lower uh you know so doing a debit spread here on a 50 cent wide it's about gaining we're risking 25 cents to make 25 cents okay so you could do plenty of contracts here we're going to compare that we're going to do a blast all again this time let's see what we might compare it to with the monthlies as we look at the monthlies we see oh yeah quite a bit more open interest look at the activity here today paul's on the october calls these are a little bit out of the money there could be some spreads going on here there could be somebody just selling far out of the money but our strike prices are different we can't do in october we can't do a 28 28 50 because neither of those exist but what we could do here is we could say okay we're going to have about two weeks worth more of time and we could do kind of an in between we could do by vertical we do want to just have the 2.50 uh strike price change here so we've got about i'm going to lock this in for ease of my math we're going to do it at 110 okay so our max potential loss here is two or a dollar ten per contract or a hundred and ten dollars that means we could do six contracts here let me get that in the right spot uh however it's going to be a little bit more aggressive because the stock has to move more right on this one would be short the 30 so that would need the price of the stock to actually make some decent movement and we would be rewarded by it because it's a little bit more aggressive of a setup versus this first one we could actually do oops a little bit more than this i'm going to put this up to 12 contracts although theoretically we could do some more than that uh our price on it even dropped here just a little bit ago so in this one the 28 28.5 would be risking 23 cents to make well okay 24 cents let's lock it in it's wiggling around 24 cents it would cost us to make 26 cents so that's going to be in the neighborhood of about 100 and something percent right if we have point uh 26 divided by 0.24 about 108 percent gain all right and what would the stock need to do well it would just need to keep its head above the 28.50 uh which it's almost there it's a 2835 but it does have to move a little bit okay the 2750 30 uh let's calculate that as well let me write these numbers down out here uh 2750 divided by 30 or not divided by sorry 27 50 30 strikes all right two dollars and fifty cents so we take 250 minus our buck ten that's gonna leave us with what a dollar forty okay so we'd have a dollar forty is our max potential gain stocks got to do a lot more divided by a dollar tan that's going to be an even more impressive return here i want you to be thinking about what your favorite might be here so we're going to go a buck 40 divided by about 10 is about 127 okay so both of those considerably more aggressive than the first set of trades we looked at on lulu okay let's go to the chart let's see where the stock is relative to 28.50 and 30 because those would be our short legs in the trade let's jump over here so 28.50
is pretty near where the price of the stock is would have to go up a little bit oh that's about as close as i can get that above that would be 30. it would need to move a little bit more but it would have a little bit more time to do it okay that's within a couple of pennies so sort of aggressive not overly although we don't have as much time and then here would be the more aggressive route move for 127 percent move now some of you might look at this if i go back to the options you might go well connie there's a lot of implied volatility priced into these options that's another good reason to do a vertical versus buying the call out right okay because of that implied volatility making the options more expensive so these are pretty high but that also indicates maybe of potentially a lot bigger move is expected because the implied volatility is so high it's not like something that might only run you know say 50 cents in a month that would have quite a bit lower implied volatility priced so let's take a look here i was going to look in the chat i want you to vote i didn't tell you that specifically yeah i want you to vote which one you prefer do you prefer the 24 debit or the dollar 10 debit okay both of them require stock movement both of them require going back buying the spread back to lock in gains so once well due to the volatility of this market i would take the shortest one the october 7th duration with the idea that yeah the market's been all over the place hasn't it let's see what anybody else says uh agariba i don't know if i said that right basically said well it's all about probabilities and it is do you want the higher probability uh both of these actually are um above 60 probability right if we were to look at the expiration date the 20 uh 850 here uh the probability actually the probability that it would expire out of the money i want you to see that this is otm okay it's not going to flood out for me i guess but it is probability otm there's a 54 chance so just a little bit above 50 that it would expire out of the money come october 7th which is in just what three weeks four weeks and if we were to look at going two weeks further out our strike price on the 30 well it's a 62 percent chance that it would expire out of the money yet notice this one has to make a bigger move has to be in the trade longer okay so there's a lot to weigh out way here all right i'm just gonna survey i appreciate your uh answering here a lot of comments so uh kathy and rebecca and vijay all like the little bit more expensive one and the little the one that has a little bit more to gain for maybe what could be considered a small louvre when we look at the history of what the stock's been doing however the majority of you are more interested in this one aren't you yeah you are uh i'm going to go ahead and submit both of them and we're going to we're going to watch both of them so let's go ahead and submit them and then i'm going to come back in i will go and say we're going to go buy back both of these when we get a majority of the gain out of them and i'll put in the same percentage i'm going to put in 85 percent on both of these we'll see which one executes first okay uh this one obviously will expire sooner but let's see how far we get on the trade so we're going to hit a confirm and send we're going to put these in our bucket for our class and then hopefully both of those get filled pretty quickly now oh pr says plug is moving fast and so it's not getting filled it's kind of sitting out here we might have to come back and adjust that that's fine i can do that after our class is over just to make sure we get filled on it all right next topic we have some trades we need to go out and make some uh take a look at okay we have several that are going to expire next friday so right now they've got eight days left before they expire uh first one up smr we sold a short pit on this it expires in eight days uh right now we're up about 65 cents or 65 dollars on the trade we just did one contract uh so it's doing essentially what we would like it to do uh at this point we got in back here oh good we did get a fill on that plug one of them anyway uh we so we got in here with the expectation that we were looking for the stock to break out of this flag and what did it do well in the time that we've been in it's actually been quite low it is not right now above that strike price but we are positive in the trade we're going to watch this closely and make sure that we are out before our class next week okay we don't want to make it go down to the wire we want to capture whatever gains we have and be happy about it and move on close up the trade so that's our action on that and next one up we've got a couple here i'll tell you we've got matador and we've got snow these two here together both of them are verticals let's open the open up both of them please open up not sure there it goes i guess i didn't talk nice enough to it all right here we go so we've got a short put vertical on matador and we just need it to stay above 57.50 right now matador is below our strike price so we're a little bit down on the trade but it doesn't need to move that far to get above its short strike price at 57 again we're going to watch this we are going to close it out before we come back to class we're going to do the same thing on flats we're down or not flex snow we're down on it as well it is a long vertical in fact we got in on the good earnings reception that it had because many times stocks will continue to run in this case it didn't but it has pulled back it is moving up we're going to again be out by the time it expires so i'm going to be watching this one very closely to get out either at a hopefully a less of a loss on the trade maybe take a partial loss my expectation is it's probably not going to go above our 200 strike price there but we'll try to minimize the loss as far as what we have going on right now uh let's see that was snow we did matador we did smr all right those are the ones we needed to address ai we've got a long option on it we're currently down on the trade but it's a january option so we're just going to let that continue to work we have plenty of time even though it's down on the trade right now about 3 35 there's still plenty of time for it to recover however if it violates a technical support level we will treat it like a stock we will go back and close it early okay and try to minimize our loss all right let's see judah says i'm going to do both also in her paper money and kind of track what happens obviously any of you these are just paper example trades they're not recommendations and certainly you can follow along as well a lot of folks like to do that as they're learning these strategies well what do i want you to do well i want you to apply what we've learned today if a long vertical is a new strategy to you and in this case we just did long call verticals you could also do long verticals but if it's a new strategy see if you can find four trade setups that you can do some paper money trades to and track them don't put them in them forget about them okay put them in and and look at them every day uh maybe every two days if you don't have time every day and just kind of watch uh as it gets closer and closer to options expiration day you're going to notice time decay really kick in and if you're on the wrong side of the trade those gains or rather those losses if you're on the wrong side of the trade you're going to see how quickly they can get big but we'd want to minimize it always look at your technicals with this one okay because we're looking to go in the direction of the trend of the stock we're not trying to fight it uh we want to make sure we're going along with it well very good it looks like we've answered oh everybody's questions ooh queen elizabeth rebecca says queen elizabeth passed i know she was in the news earlier today that they were concerned about her so it looks like that's happened that may influence the european markets to some degree which could have a trickle-down effect to us well i want to thank all of you for being here today and participating when i've asked you to vote on a particular trade you have and i very much appreciate that barb i appreciate you being here in the chat to answer questions and put out some links to those webcasts now i don't believe there was a survey here today so my ask of you is to one if you haven't subscribed to trader talks go ahead click on that little arrow that's kind of down to the bottom of my screen here are some new uh or webcasts that are geared to newer traders if maybe this is a little bit too much for you there might be some classes here that might be helpful to you to pick up on and one of those is the getting started with options that i mentioned earlier that barb teaches all right well i do wish you a good afternoon james boyd's going to be coming up next with trading the trend i know a lot of you love to attend his class he'll have a good one uh for you today but just remember what we talked about today is for educational and informational purposes only not a recommended not a recommendation or advice to of any security strategy or account type even though we were examining long verticals today past performance of any security or strategy does not guarantee future results or success hope you took lots of notes and next week we're going to follow up on some of these trades along with some others uh i'll give you the what happened on the trades that i said we're going to be out of these before we meet next week you're going to get a book report on it hey thanks everyone have a great day we'll see you next week [Applause] [Music] you
2022-09-13 10:44
