Daily Trade Blog for options plays:

Home Builder: Toll Brothers Inc.             NYSE:         TOL

Today 10-08-2013 Sell October weekly Iron Condor at .35-.40    31/ 30.5p v.  31.5/32c

Maximum Risk: 100 – 150 over 3 days’ time

Maximum Reward: 350 – 400 over 3 day period

Open Int.                Call   strike  Put    Weekly(3)October    Monthly (10) October

                                         30.5              265                               1550

                                          31                200                               1500

                                         31.5              100                               1570

                                           32                 10                               5350

Technical resistance / support

Short Trend line staring at a hi of 33.13 on 10/02/2013 now support      30.15

Support trend line now resistance starting at 32.61 on 9/08/2013           31.15

Technical Resistance        31.40 **      32.05***

Stock looks great to be between 31 and 30.5 going in to the holiday weekend for a great risk/reward Theta play with the Weekly IV trading at 38%

Average Daily Volume on stock 3,732,000/50 Running Day Avg.

TOL closed the week at 31.46 which worked out great after showing some weakness on Thursday before expiration.