NIO is out in front of it’s skis lately, my 10/23 target is $24. Although long term I’m long on NIO even though it’s lost money its last 4 quarters In a row. Considering the excitement in price action last week, this is a contrarian play on recent sentiment, but it’s a realistic play if I listen to what the chart is telling me. Good luck and happy trading friends...
Trade active
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Executed 27/28 Strangle
Trade closed manually
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sold 28 call at 9:36am & 27 put at 10:19am. made a tiny profit with timing, I'n not going to sit around for -theta. I can always go back in if I see better movement, but no movement ain't good for a strangle...
I think it will be a support at 22.70
the old resistance becomes support, every time this happened in all the waves of NIO.
Options360
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@johnandrews205, You could be right by next week, we can never predict the price action exactly, but I was being conservative with the down side to the center of it's historical wave by 10/23...
johnandrews205
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Thoughts for today?
Options360
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@johnandrews205, need to see what's up with the price action first..
MarquesChisholm
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You might be able to hit your target.
Options360
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@MarquesChisholm I got a 27/28 strangle earlier today so I feel good about that.
ProfessorBurns
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What financial aspects make it a long term prospect that outweigh the consistent quarterly losses and increasing debt ratio?
Options360
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@ProfessorBurns, it's historic chart patterns. lol. Purely short term technical play. But long term eventually it's got to profit. haha. no? I mean the trend of ev's and china's economy would be the best answer I reckon.
ProfessorBurns
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What do these amzn and aapl charts have to do with NIO
Options360
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@ProfessorBurns, Hiya. NIO pullback was the past few days. Now it's obviously poppn today. lol. O the charts are clickable links to my FibMA7 & FibVIP scripts that I personally use for options entry & exit precision. As you know, every second counts in the options world.
the old resistance becomes support, every time this happened in all the waves of NIO.