This coil is gonna go big one way or the other very soon. Hoping for that to be tomorrow off a weak open. My play is to spend $50-100 on sep 8 calls(probably 170 strike, possibly 167.5) on any pullback, risk to 0, sell for a minimum of 100%, depending on the chart. A break of 167.89 (today's high) is a good add spot, then above 168.58 another add which could pop for a $1 gap fill. I already am holding a bigger position of sep 15 calls. Volume is not there, I'm early on this. Could still go south, and will drop fast so manage your risk well!
Comment:
What a close for this today! I averaged down on my SEP15 172.5 calls, and basically ended the day break even. Setting up for a potential gap and go in the morn.
Comment:
Keeps trying to break out but can't quite hold it up there. Will be watching for a sell off to enter over the next few days. I added OCT calls yesterday, will hold them unless some crazy negative news comes out