TA at 1HR TF (because this stock is new, no daily history)
Quick Coinbase play at high IVR, reasons:
- trend changed: higher high , lower lows - divergence at bottom - my strike is last bottom as support- $260 - I have very plenty safety zone - Buying power arrieved as volume
Max profit: $220 Probability of Profit: 72% Profit Target relative to my Buying Power: 28% Max loss with my risk management: ~$290
Req. Buy Power: $780 (max loss without management before expiry, no way to let this happen!) Tasty IVR: 93 (ultra high) Expiry: 38 days
Buy 1 COIN Jun18' 250 Put Sell 1 COIN Jun18' 260 Put
Credit Put spread for 2.2cr, because IVR is very high.
Stop/my risk management: Closing immediately if daily candle is closing BELOW the box, max loss in my calculations in this case could be 290$. Probability of loss in this way: ~10% .
Take profit strategy: 65% of max.profit in this case with auto sell order at 0.77db. Probability of profit this way: ~90%.
Of course I'll not wait until expiry in any case!
If you liked this article, check my other ideas.
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At the border before event! Double my position for 5.5cr, IVR is exrtreme high - 111 !