Trade_Integrity

OIH Monthly Candle Breakout

Long
AMEX:OIH   VanEck Oil Services ETF
11 month accumulation with a large range expansion away from the mode. My strategy to trade this was jan 2023 $285 calls for the lower premium. ATM calls are also a good strategy at a significantly higher premium so it depends on your portfolio size and the position size you're aiming for. For options I choose to never exceed 5% portfolio size per trade and I set my stop at a 50% loss (for actual stocks I don't use this rule, just options). You can trade a smaller position size but I wouldn't recommend going above 5% of your total portfolio. Even with far OTM calls, I'm already at about 13% profit since there's been some nice movement since I originally charted this 3 weeks ago. At around 20% profit I will likely adjust my stop to around 10% profit and then trail.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.