Weekly:
Flag pattern
Getting high on the curve but expecting price to break thru supply level
Daily:
*Entered on the fakeout, but holding stop below all the support at $16.00 (moving averages)
Moving average are expanding nicely to the upside and the bollinger bands are expanding in opposite directions indicating further momentum.
First target $23.00
Symbol: AMRN
Trade: Long Calls
Strike: $17.00
Expiration: 06/21/19
Cost: $3.40
Contracts: 1x
Total cost = $340.00
Stop Loss: $16.00
Flag pattern
Getting high on the curve but expecting price to break thru supply level
Daily:
*Entered on the fakeout, but holding stop below all the support at $16.00 (moving averages)
Moving average are expanding nicely to the upside and the bollinger bands are expanding in opposite directions indicating further momentum.
First target $23.00
Symbol: AMRN
Trade: Long Calls
Strike: $17.00
Expiration: 06/21/19
Cost: $3.40
Contracts: 1x
Total cost = $340.00
Stop Loss: $16.00
Trade active:
Still holding on to the calls which are currently valued at $5.75 vs. $3.40 entry.
Trade active:
Still holding on to the calls which are currently valued at $6.55 vs. $3.40 entry. (+3.15). Sock is currently trading at $22.33. My first target on the trade is $23.00. Since I am trading 1x contract I will be looking to move my stop on the call option to lock in profits, but I am letting price do its thing!. If trading multiple contracts I would definitely take some off the table you just doubled your $$$ on the option in 5-7 days. But the BB bands are expanding in opposite directions indicating price has more momentum to move. The MA's are supporting price and moving upwards. My plan is one price hits $23.00 to start trailing my stop below the 50 ma, but that has to happen first. Current stop loss is at entry price of the call option $3.40.
Trade active:
Trailing my stop below the 50 day MA, no emotion, letting the stock do its thing!