I bought the June $200 calls today, which provided the right amount of delta to have my stop below today's gap up candle.
On the daily you can see that this gap is a gap-n-go since traders were shorting for the past 3 days (black candle gapping up). If we go higher, the bears will be forced to close their positions or take some serious pain.
Let's see how she does with the rest of the market. SPY is down about 0.50 % after hours.
On the daily you can see that this gap is a gap-n-go since traders were shorting for the past 3 days (black candle gapping up). If we go higher, the bears will be forced to close their positions or take some serious pain.
Let's see how she does with the rest of the market. SPY is down about 0.50 % after hours.
Trade active:
Bought one $200 June call today.
Trade closed manually:
Closed the trade today for a little bit more than breakeven after seeing the market dump. Will watch closely for another setup.