Unprofitable: I lose money on this trade if ASNA closes under $18.35 on June 15, 2012. The most I can lose on this trade is the amount the Spread can be .
Reason I Like This Trade: I think that ASNA will have strong earnings, but if it breaks $18.50 it could be goodnight ASNA. In this strategy I make money if ASNA goes up, flat, or down less than 3%
UPDATE 6.4.2012 This Spread is worth $.32 and if the stock can rally above $18.50 then I will collect the whole credit I sold the Spread for. If it closes above $18.35, it will be a profitable trade.
UPDATE 6.5.2012 This Spread is worth $.35, but I will leave this trade on and hope for a POP higher in the stock.
UPDATE 6.7.2012 This Spread is worth $.15, but since it is such a small position I will leave this trade on.
UPDATE 6.11.2012 This Spread is worth $.10 and I am leaving this position still on.
UPDATE 6.13.2012 With 2 days left, this trade looks like it will be worth zero, but no trade is a winner until it is closed.
UPDATE 6.27.2012 This trade went out worthless and moving to the next trade.