Bull Spread on DRYS option

Guys, I have been thinking about entering the DRYS once more after I exited out 2 week back. Drys has been hammered in last few trading days and it look like it is ripe to enter next as the option expiration weekend is over.

Every third week, I keep watching that stocks take hammer left and right from the market (mostly big player).Well this is free market, what can I and you do if we don't have money might like them. No worry, there are ways we can beat them in their own game. Its just a matter of time, when we all will become shrewd and smart like them. But till than we have to suffer, if we play with option.

So after watching DRYS last week, it definitely look favorable to enter the market on the bullish side keeping small target in mind like 7$ from the current price. This brings to the point why I am writing this. July 7 strike price is at 0.35 and 8 strike is at 0.15. So we can play this by buying 10 strike of 7 @0.35 and by selling 10 strike of 8 @0.15 each. So the net difference is 10*0.35 - 10*.15 = $200. Now I am expecting Dry to run atleast to 8 (keeping price fluctuation of DRYS in mind).

lets see how it plays.

Twit This!