phoenix option trading rules. suggested trades suggested trades can come anytime our traders see an...
TRANSCRIPT
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PHOENIX OPTION TRADING RULES
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SUGGESTED TRADES
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Suggested trades can come anytime our traders see an opportunity
Trades are emailed as well as texted
Trades are posted to the website
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SUGGESTED TRADES WILL APPEAR IN THIS FORMAT:
1. ABC Company – Buy to open the FEB 50 Call for 2.50 or better
2. ABC Company – Buy to open the FEB 50 put for 2.50 or better
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Phoenix options only buys options to open and sells options to close
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The Company or Symbol
ABC Company
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THE EXPIRATION MONTH
Recommended Month Only
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THE TYPE OF OPTIONCALL OR PUT
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THE PRICE WE WANT TO PAY
2.50 per contract
OR BETTER
2.50 or at a LOWER price
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THESE ORDERS WILL WORK UNTIL CANCELED VIA OUR DELIVERY SYSTEM – TEXT OR EMAIL
Daily position updates will be sent with instruction as to what to do next on the trade
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ENTRY RULES
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1. ALL TRADES WORK UNTIL WE GET OUR PRICE OR CANCEL2. YOU CAN WORK YOUR ORDER AT THE QUOTED PRICE
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EXIT RULES
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1. WHEN A NEW TRADE IS EXECUTED. PLACE A 30% STOP2. WHEN A 30% PROFIT IS REACHED, CHANGE YOUR 30% STOP TO A 10% TRAILING STOP
3. IF YOU GET STOPPED OUT FOR A 30% LOSS, MOVE ON TO THE NEXT TRADE
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CAPITAL MANAGEMENT All trades based on a 500 investment