AMAT rocketed out of earnings Short then Long
Updated
AMAT on the 15 minute chart jumped 13 % from earnings and is now in the $212 range. The 0.5
fib level is 202.65. I have 3 call options striking $190 for July purchased only a day ago.
Trade plan. I will sell two calls and collect profit. I am buying a put option striking $204
expiring on 2/23/24 expecting a fall to the retracement line. I will close the put option
when price gets under $204, Porfits will be used to buy another AMAT call option for July
this time for a strike of $210 to lower cost.
fib level is 202.65. I have 3 call options striking $190 for July purchased only a day ago.
Trade plan. I will sell two calls and collect profit. I am buying a put option striking $204
expiring on 2/23/24 expecting a fall to the retracement line. I will close the put option
when price gets under $204, Porfits will be used to buy another AMAT call option for July
this time for a strike of $210 to lower cost.
Trade active
Trade is going exactly by the idea- Put now liquidated and another call option longOTM at $ 210 Net profit in account for something else now holding 2 options with
an average strike of $200 which is just below current market. Its all good.
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