Bullish LYB Range Bound Breakout Long

LyondellBasell Industries NVNYSE

Description

⋅ Mar 7, 2019 2:04 PM

LYB is about to break out of its range its been bouncing between this $84-90 range since Jan 4th.

It's about to break out. Price target is $96.

Call Option April 12th EXP, Strike $90.

Possibility of a false breakout. Contract will be sold if it reaches $88.

Otherwise aiming for target of $96.

Possible interference from the SPY as it may cancel the rally if the SPY sells off.

Trade closed manually

⋅ Apr 2, 2019 7:28 PM

Order cancelled

⋅ Apr 2, 2019 8:14 PM

Comments

Synaptic724

⋅ Apr 2, 2019 3:32 PM

Time to give this another shot. Spy is moving higher. WILL LYB BREAKOUT?! We shall see. Vertical Call bought on LYB May 17 EXP Strike 90/95 Price 2.85-0.95 = $190 for call spread.

Synaptic724

⋅ Mar 8, 2019 4:23 PM

Never had a chance to buy it so I never took a loss on it. I got lucky