Weibo ($WB) looks to be in a nice dip at the moment. I'm awaiting news regarding the trade situation with the US / China and that will determine the future of my decisions. It is trading below the 255 day linear regression 2x standard deviation line currently, and looks to have possibly formed a double-bottom.
Trade active:
Working on an entry for a 6/15 $102 Call. Currently hoping to hold later into this week and see if she can tap the bottom of the 2x standard deviation line off of the linear regression (255 day).
Trade active:
In with $102 6/15 call purchased at $5.40 -- we'll see! PT of just under $108 before I let go.
Trade active:
I did not get a good price on that $102 6/15 call, so I'm feeling the pain! If she bounces, I won't be unhappy. If not, It'll continue to hurt. Today looked good.
Trade closed: target reached:
Despite yesterday's sentiment about the price of the call I purchased, etc... Today started out strong for $WB and it bounced right up near my price target of ~$108.00.
I went ahead and took profits on this call, since I've been feeling the pain on this one since my purchase. Not bad! Bought in $102 call exp 6/15 @ $540.00 sold the call @ $640.00. Looks like my lesson is that patience is key!
I went ahead and took profits on this call, since I've been feeling the pain on this one since my purchase. Not bad! Bought in $102 call exp 6/15 @ $540.00 sold the call @ $640.00. Looks like my lesson is that patience is key!