Trade Entry Feb. 7 expiry. Put Credit Spread. 8/10 strikes. $1.00 or more credit. Max risk $100. Max reward $100. POP 72%. (I would prefer better than 1:1 payout, so even trying for $1.05 or $1.10 makes a big difference). Minimum acceptable credit is $1.00.
Chart Details Bullish flat bottom wedge forming in a consolidation since 2014 highs of $17+. Price entering end of pattern. Earnings on Feb. 4th. Multiple gaps to fill up to $17. 10% increase in this ticker is less than $1 price increase. Good possibilities.
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I like Ford a lot here.
Tend to like companies that have been around forever, with perceived under valuation metrics
Falling wedge favors an eventual upside breakout of the pattern,
Key bullish number short term would be an upside breakout above 9.60
Look also for 9.00, to offer important support below the market.
Trading range.
Tend to like companies that have been around forever, with perceived under valuation metrics
Falling wedge favors an eventual upside breakout of the pattern,
Key bullish number short term would be an upside breakout above 9.60
Look also for 9.00, to offer important support below the market.
Trading range.