Weekly SMA20 bollinger band, plan to Long above SMA20, in up band.
Long 8 Stop 6.5 Target 15
Risk management is much more important than a good entry point. I am not a PRO trader. In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
plan#1 BuyToOpen Sep Call spread C10/15 (C10 Delta 0.44 ) Limit 0.96 -0.30 = 0.66 SellToOpen Sep Put P6 (Delta -0.2) Limit 0.6 Cost "0", if price stays between 6.5 and 10, no loss. stop at 6.5, may loss $1 x 100. max loss 600 if price down to $0.
plan#2 BuyToOpen 2025 Jan Call spread C10/17 (C10 Delta 0.51 ) Limit 1.44=0.44 = 1 SellToOpen 2025 Jan Put P5 x2 (Delta -0.14) Limit 0.5 x2 Cost "0", if price stays between 5 and 10, no loss.
Willing to buy SOFI stock at 5, max loss 5 x 200 if price down to $0.
Comment
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not entry yet. Price should above SMA20, $7.9, which is in the up trend Bollinger band.
one correction: BuyToOpen 2025 Jan Call spread C10/17 (C10 Delta 0.51 ) Limit 1.44 - 0.44 = 1
Trade active
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plan#1 BuyToOpen Sep Call spread C10/15 (C10 Delta 0.44 ) Limit 0.72 SellToOpen Sep Put P6 (Delta -0.2) Limit 0.57 Cost near "0", if price stays between 6.5 and 10, no loss. stop at 6.5, may loss $1 x 100. max loss 600 if price down to $0 overnight.