On my radar is this energy sector company called Valero Energy Corporation, Ticker: VLO
The idea details:
Ideal Entry @ $136.00
Ideal Stop @ $125.25
Ideal Target(s) @ $146.50, $160.25 & $167.25
Option Proxy:
Expiration: June 16, 2023
Strike: 150
Ideal Entry Price: $8.00
Ticker: .VLO230616C150
Trade Plan:
Entering trade at approximately $136.00 would be ideal, upon testing target 1 @ $146.50 we’d sell 1/3 of our position booking partial profits, at that time we would also move our Stop to our ideal entry @ breakeven. Upon testing target 2 @ $160.25 we’d sell another 1/3 of our position booking additional partial profits, at that time we would also move our Stop to where we took our first profits @ target 1. We’d allow our last 1/3 to run towards our final target or stop us out for profits at the target 1 location. Maintain Option Proxy profit taking in conjunction with the underlying stock price.
The idea details:
Ideal Entry @ $136.00
Ideal Stop @ $125.25
Ideal Target(s) @ $146.50, $160.25 & $167.25
Option Proxy:
Expiration: June 16, 2023
Strike: 150
Ideal Entry Price: $8.00
Ticker: .VLO230616C150
Trade Plan:
Entering trade at approximately $136.00 would be ideal, upon testing target 1 @ $146.50 we’d sell 1/3 of our position booking partial profits, at that time we would also move our Stop to our ideal entry @ breakeven. Upon testing target 2 @ $160.25 we’d sell another 1/3 of our position booking additional partial profits, at that time we would also move our Stop to where we took our first profits @ target 1. We’d allow our last 1/3 to run towards our final target or stop us out for profits at the target 1 location. Maintain Option Proxy profit taking in conjunction with the underlying stock price.
Comment:
Target 1 @ 146.50 has been acquired. ROI: 7.72% on Stock, 46.86% on Option. Move STOP to Breakeven / Entry.
Anthony Speciale, founder of Speciale Analysis offers an affordable approach for all traders to grow into their highest potential.