LMT breakout today cup& handle

This stock is breaking out today as it has made a new high at 333$. To be aggressive, I bought the november 332.50 call strike for 9.90 per contract (990$ invested) and looking for the stock to go from 333$ to 350$ a share. Once i am profitable of atleast 20%, im going to write a sell call to decrease my risk. if you want to play this stock, you can buy the 3x etf DFEN which has broken out to new highs. Thanks for reading
Comment: Today 9/19, I closed my debit spread for 25.5% (253$ Profit). I initially bought the 332.50 long call for 9.90$ and after 3 days, I was able to open a sell call at 335 for 10.60. That means that after 3 days, I was able to receive my orginal investment + 70 dollars. And I could hold it for a max profit of ($250+ 70 = 320$ max profit). Today, I tried to sell the spread at mid price of 250$ but had no bidders. I then tried 225..then 200.. then finally settled at 183$ + 70 free premium = 253$ or 25.5% in 5 days. If I had just held the long call, today my option is valued at 85% profit. This was a fast winner so I dont mind missing out as I significantly reduced my risk.
why the price is falling today, and any thoughts on how long it can go down?
TheBulltrader Pranikm66
@Pranikm66, stocks go up and most of the time they give up "some of their profit" after going up alot. For example, "LMT" went up 5 days in a row and returned 7-10% which is alot in 5 days. So in this case, the stock went up very fast and should retrace a bit. Based upon support, the stock should not go below 320$ a share. So i would be happy to buy it around 330 and to sell it at 360. so that would another 7-10% if you have good timing.
Pranikm66 TheBulltrader
@TheBulltrader, Thank you.
I concur, hoping for $350
I like this too. Was looking at it last night.
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