Trade of the Day (ANF) 8.14.2012

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shutterstock 35457625 2Trade:  Selling the ANF Aug 29-28 Put Spread and 35-36 Call Spread for $.37 total

Risk: $63 per 1 lot

Reward: $37 per 1 lot

Notes:  good risk vs reward that ANF does NOT move the measured move target

UPDATE 9.11.2012  This Spread blew up a little and went to fair value of $1.  Not every Condor will Work.