Short
Super Not-Sexy Swing Trade - $APA - Apache Corp lower
APA had a quick drop to this $70-78 consolidation range after a 104.57 top on 7/31. A lot of room to go lower below the 10/15 low ($68.29). I got filled on one (delta 0.63) JAN15 75 Puts for $5.00. I don't have any idea what the company does (don't care), just looking at the chart.
Risk - sell stop when underlying stock price is above $78.65. If that is not ever filled, adding a 30 day time stop to get out. Time stops are good for straight bought options because that can turn into a pretty large theta decay loser if it doesn't go up or down.
Target- A double? Using a trail stop method in it's infancy.
Disclaimer: This is also a trade for me to get my cash portfolio delta lower. May not be your cup of tea for your situation.
-Kevin
Risk - sell stop when underlying stock price is above $78.65. If that is not ever filled, adding a 30 day time stop to get out. Time stops are good for straight bought options because that can turn into a pretty large theta decay loser if it doesn't go up or down.
Target- A double? Using a trail stop method in it's infancy.
Disclaimer: This is also a trade for me to get my cash portfolio delta lower. May not be your cup of tea for your situation.
-Kevin
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.