New ZB Trade

ZB Scalp

Yesterday I didn't have the courage to short ZB on a gap open and I missed the trade. So I set my trade alert for yesterday's high near 144'20 and was prepared to short today if we hit there. I was able to follow through this time and took it off later today for a very small scalp of $340. I wasn't sure if I wanted to short outright or via a put spread so I ended up doing both. I bought (2) 145/144 put spreads at the same time for 0'32 so felt comfortable taking some profit now and I've got until May 18 to possibly make or lose $1,000 more. My tentative plan is if we finish over 145 and I lose 100% of the debit spread then I'm ready to short outright at levels near all time highs. We were at the top of the channel on the daily chart at the time of execution and the blue lines are my entry and exit on today's trade.

WFM Earnings Play

http://screencast.com/t/Tin11d7l