I typically don't trade weeklies but saw UOA for CCL and I like the ascending channel it's forming. Also looking flaggy with January AVWAP at $24.94 . MACD giving confluence as well.
Looking for a move near top of channel in next day or two.
Tight stops due to the decay ; 24 and 25 strike , small size. A couple 9/10 contracts as well (most likely will be the better idea if you can afford time)
Comment
⋅
Stopped out, mean reversal , look to reenter at bottom of channel
Ended up buying healthy amount of $24 options expiring next Friday, lets see.
TORNADOF5
⋅
23.42 is the long support ?? still studying =/
thanks
TORNADOF5
⋅
hey , the purple line is an entry ??
thank you
FriscoTrades
⋅
@avi417, The purple line is the annual AVWAP , or anchored VWAP starting from around 1/1/2021.
This is more so a lotto at this point for weeklies, optimal entry is always at the bottom of channel (support) for longs, and top of channel (resistance) for shorts.