ZM – Bullish Breakout & Bullish EMA Cross
Order pending. Waiting for fill.
Trade Entry
1/24 – Put Credit Spread. 70/74 Strikes. Credit of $2.00 or more. Risk/reward is same $200.
Stop at $68. Exit at 50% profit, $74 or $78 last resistance, or see if hold close to expiry.
For owning stock versus options, I think this is a good entry price with 6-month time horizon or greater.
I think ZM will be above $74 by 1/24 based on chart. Starting with single options spread until ZM provides more bullish data.
Chart Details
Bullish flat bottom wedge pattern.
Price breakout bullish.
Bullish 10WeekMA price cross and EMA bullish cross.
Price is about where it was during IPO. Great company. Good long term value.
About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards.
Disclosure - I am long BTCUSD, GBTC. Short term GDX Bullish, SPXS Bullish, CRWD Bullish short term.
Trade Entry
1/24 – Put Credit Spread. 70/74 Strikes. Credit of $2.00 or more. Risk/reward is same $200.
Stop at $68. Exit at 50% profit, $74 or $78 last resistance, or see if hold close to expiry.
For owning stock versus options, I think this is a good entry price with 6-month time horizon or greater.
I think ZM will be above $74 by 1/24 based on chart. Starting with single options spread until ZM provides more bullish data.
Chart Details
Bullish flat bottom wedge pattern.
Price breakout bullish.
Bullish 10WeekMA price cross and EMA bullish cross.
Price is about where it was during IPO. Great company. Good long term value.
About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards.
Disclosure - I am long BTCUSD, GBTC. Short term GDX Bullish, SPXS Bullish, CRWD Bullish short term.
Trade active:
Still holding ZM. Bullish pattern breakout. Price premarket 1/8 is only 2 cents below yesterday close.
Previous daily candles are full bodied and bullish.
Will update if things change.
Previous daily candles are full bodied and bullish.
Will update if things change.
Trade closed: target reached:
Held for 2 days.
Took initial credit for Bullish Put Credit Spread of $200. Paid back $1.55.
22.5% profit or $45 of $200 credit.
This is just an example of how you can use small risk for high probability trades to build your comfort level. Then simply scale up once you are comfortable with more contracts for your spreads keeping 5% maximum portfolio position sizing.
Took initial credit for Bullish Put Credit Spread of $200. Paid back $1.55.
22.5% profit or $45 of $200 credit.
This is just an example of how you can use small risk for high probability trades to build your comfort level. Then simply scale up once you are comfortable with more contracts for your spreads keeping 5% maximum portfolio position sizing.