$C looking like a good buy here.

$C has been getting beat down like all the other banks have over the last week or two and I think its time they bounce. Chart shows a decent support around $67.67 and we have Fed Bank Stress Test Results coming up on JUNE 24th which would allow for banks to increase / reintroduce dividends and also start stock buybacks again if they are cleared. I think this could be a big bullish move for banks and the R/R for me is looking nice. RSI also beat down heavily on the daily timeframe and $C doesn't stay oversold for long without a bounce.


I ENTERED 9/17/2021 $82.5 Calls today for 0.45 to be transparent with everyone. I want to see this thing back up towards $80 but I will be scaling out profits on the way up and my stops are tight under $67.67 until I make my contracts free then I will let them run.

FEEL FREE TO ENTER CLOSER TO THE MONEY AND SET UP YOUR OWN TRADE PLAN FOR THIS IF YOU LIKE IT.


SL: Under $67.67

REMEMBER NEVER ALL IN YOLO ON TRADES AND NEVER JUST HOLD AND HOPE SOMETHING WORKS OUT! HAVE A PLAN, TRADE YOUR PLAN, AND IF IT DOESN'T WORK MOVE TO THE NEXT TRADE AND FIND WHAT YOU CAN DO BETTER. TRADING IS A LONG GAME AND NOT JUST A GET RICH QUICK SCHEME.

THIS IS NOT FINANCIAL ADVICE AND I AM ONLY SHARING WHAT I AM DOING AND MY IDEAS!

Comment:

Amazing play called here. $C bounced a pretty big amount already and gave nice profits on all option contracts. Personally scaled most out and left a few runners to see where it can go but this was a great bounce trade.

REMEMBER TO NEVER LET A GREEN PLAY TURN RED. MOVE STOP LOSSES UP AND MOVE TO THE NEXT TRADE.