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wounsel
Jun 22, 2018 1:26 AM

$IGT - Double Bounce? Long

International Game TechnologyNYSE

Description

IGT is trading below 2x stddev off of linreg(255day) bands. That's my zone. Will be looking at news + options for swinging this one with some medium-length calls.

Trade active

Bought 4x 8/17 $25 Cs @ $1.60 at open this morning. Seeing some returns, will likely sell at PT of ~$25.50 whenever it is reached, unless we're looking at a bigger bounce.

Trade closed manually

Fail! This one didn't work out. I will consider re-entering if we see some signs of a reversal.
Comments
Swingman39
$23 looks to (hopefully) hold as support. Could be an opportunity for some $24 calls or average way down on those 25s...
chazuru
@Swingman39, I got crushed holding 100calls 25 calls 26 for July 20 I don't know what to do
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