This is another trade like the one above. This time I had price support at 9, 21 and the 50 day moving average. Also had bollinger band support and chart price level support at 907 and 896.

I was so excited about the set up, I did not notice that earnings were about to be released. That explains why I got such a great premium on this position when I entered. If you can get a WELL above average premium, something is wrong. I knew better.

Once I realized my mistake I had a number of things I could do. I could purchase Puts to protect part of the position, maybe buy a put spread or try to close for a profit or even a small loss.

In the end I had the opportunity to close and make a little money. I probably could have made more by using another strategy but it would have been more complicated. I had some other trades I was managing and elected for the simple approach.

Not a bad return for a mistake and in less than a day. Closed with a $130.00 profit on a risk of $1736.00. One day return of 5.65%.

Date	Sym		Exp	Strike	Price	C	Type	Cost	Balance
04/27/17	AMZN	STO	4WK4	$887.50	$7.42	10	P	$7,420.00	$7,420.00
04/27/17	AMZN	BTO	4WK4	$885.00	-$6.64	10	P	-$6,640.00	$780.00
04/27/17	AMZN	BTC	4WK4	$887.50	-$5.23	10	P	-$5,230.00	-$4,450.00
04/27/17	AMZN	STC	4WK4	$885.00	$4.58	10	P	$4,580.00	$130.00
								Profit:	$130.00