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"BAC"k and Forth in Bank of America

Long
NYSE:BAC   BANK OF AMERICA CORPORATION
Against a backdrop of the broader stock indices that don't seem to want to spend ANY time, at ANY level (w/ the possible exception of the Russell 2000), today we forayed BACk into Bank of America using a dynamic support level that printed at 25.5. When breakouts or fades get tricky, we like to fall BACk (okay, stop me) to names that are staying inside a well defined channel.

We have additional confluence, or strength of signal (SOS), at the 233 EMA (T-Line) on the 1H timeframe.

Expressed trade as Oct 25/28 Bull Call for $1.15db A $1.15 debit sounds familiar - maybe check out our SPY Put idea while you're here. See Related Idea.
Risk is the usual 50%-ish of premium paid.

Trade active: Scale partial $1.30 (5% of position)
Trade active: Adding back 5% to core $1.00
Trade closed: stop reached: Exited remainder of position at .45 using 50% of premium stop.
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