Long call opportunity for a move above last nights close
Comments
mikeffi
⋅
JR..ready to take advantage of your anticipated move down :-) Hope your trading week a good one buddy
QuantitativeExhaustion
⋅
It sure was called the Gold/Silver tops and have been riding them down.
mikeffi
⋅
Closed at target of 40% on $31 underlying target as below. ready to go with Put if break of $30
mikeffi
⋅
It seems unfortunate that there is no acknowledgement of the possibility of anything been a sound trade if contrary to your idea..I must disagree trade what you see not what you think remains and always shall be the cornerstone of any traders success..your entry/exit is determined by this..the only certainty in terms of sentiment is what you see in front of you..By all means have the idea and choose a strategy that has less risk in max $ terms (but then of course that depends on your position size) and nothing wrong re. waiting on the sidelines to see if your guess turns up in the reality of what the chart tells you in the now. Trading is not nor should it be as potentially complicated as you are making out, for the more complicated (and this is complicated not sophisticated) an idea is the less easy it is for someone to follow through on what they MUST do in a trade which we all know is the reason why most trades fail..whatever you enter and why, no-one went broke on an entry decision...it is what you do next that destroys capital, confidence and ultimately any purpose you have for trading. No-one mentioned selling options - so you wouldn''t trade it so why mention it? Good luck in a couple of weeks i hope it works out for you
mikeffi
⋅
Particularly work well with the feb series as you previously suggested
QuantitativeExhaustion
⋅
I need to know the fundamental and social emotional catalyst that will trigger the event to piece the 3D technical puzzel which matches my speculations. That is how humans, not computers, deduce and arrive at a speculation.
As far as bull call spread now, would be jumping the gun. I have to time this position with evern lower volatility and stock price to maximize my gains. Hopefully this is a 10 bagger or more with 34/35 calls trading for a few pennies. So far everything is going as planned I have two more weeks to wait for this position. If i were to take posistion now, it would be for a long Feb. 27 Put. I can't sell options in this extremely low IV environment.
mikeffi
⋅
Just to contend something below as this sort of discussion is important..you state that this is the view of trading view technicians and yet your argument (which may of course be valid) is based n fundamental events which from a technical point of view are yet to show up. If trading what you see rather than what you think is the right approach (and i am sure you would agree in your experience that it is,..then the entry albeit quite simple suggested above does adhere to that principle more closely. In terms of my investing approach I would not disagree strongly with your largely fundamental idea, logically it could play out but in this situation as with many the "thinking" component is what we sue to determine strategy selection..if your belief is that the stock will go up to 33..a 31.50/32.50 bull call spread would be cheap as chips, offer the return you appear to be after and at the same time cap loss significantly
mikeffi
⋅
OK Im in at $30.21 on underlying Mar30 1.30/share..voted and liked the idea of an options chain..back the concept ++. Like the thinking of the weekly further OTM for the bigger punch..may give that a nudge on a break of $31
QuantitativeExhaustion
⋅
Well, I remain on the sidelines. Thanks for the vote. Need to find other option traders to "like" this.