Unprofitable: I lose money on this trade if PAY closes above $48.30 June 15, 2012. The most I can lose on this trade is the amount I paid can be worth $1 minus the price I sold it for, $.30 for a total of $.70.
Reason I Like This Trade: PAY has sold off 3 times on earnings and the stock looks very weak and has all its moving averages higher. I think if it does rally then it will get selling pressure.
UPDATE 5.29.2012 This Spread is currently worth $.05, but no trade is a winner until it is closed. I will leave this trade on as there is little hope for PAY to rally to $48 in 13 trading days.
UPDATE 5.31.2012 Another winner, but leaving it on until it goes to zero.