China Devalues Yuan Again


Trade Options for Freedom

Baidu fell about 5% on news of China devaluing the Yuan again. With a lot of selling in the morning I decided to be a little bearish on BIDU. The trade I opened was a bear put spread. Initially when I looked how much it would cost me, I thought it was kinda cheap. At that moment I spoke too soon because the trade that would have cost 50 bucks ended up being 50% more. Here is the trade:

I bought a bear put spread at $75.35

BIDU Aug 14 155.00 Put @ $97.29

BIDU Aug 14 157.50 Put @ ($172.64)

Then sold it at $93.65

BIDU Aug 14 2015 155.00 Put @ ($158.64)

BIDU Aug 14 2015 157.50 Put @ $252.29

For a profit $18.30, a gain of 24%

Because I can actually only make 1 trade a day at this time, I missed an opportunity to put in…

View original post 65 more words

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