BA Weekly Options Play
Description
BA gapped out of the pattern, a strong signal, and made a nice bullish candle on strong volume.
We'll be looking for this move to continue.
Related idea linked, almost entered on friday, but didn't quite cut it.
Using A call debit spread, because profits are always limited by time.
Call Debit Spread
Levels on Chart
SL is a daily close back in the wedge.
*Stops based off underlying stock price, not mark to market loss
The Trade
BUY
11/19 235C
SELL
11/19 255C
R/R & Breakevens vary on fill.
The long call is placed ATM for higher chance of profit,
The short call is placed at a reasonable expected level of price within the expiration time.
The front-week options play is to capitalize on a swift movement following the break.
Manage Risk
Only invest what you are willing to lose
BA gapped out of the pattern, a strong signal, and made a nice bullish candle on strong volume.
We'll be looking for this move to continue.
Related idea linked, almost entered on friday, but didn't quite cut it.
Using A call debit spread, because profits are always limited by time.
Call Debit Spread
Levels on Chart
SL is a daily close back in the wedge.
*Stops based off underlying stock price, not mark to market loss
The Trade
BUY
11/19 235C
SELL
11/19 255C
R/R & Breakevens vary on fill.
The long call is placed ATM for higher chance of profit,
The short call is placed at a reasonable expected level of price within the expiration time.
The front-week options play is to capitalize on a swift movement following the break.
Manage Risk
Only invest what you are willing to lose
Trade active
Filled @ 2.4.Trade active
I rolled this position forward.Old position closed for .96, - 60%.
New position opened for 2.07
New Position:
11/26 235/255
- Max Loss: 3.51 points
- Break-even: @ 238.51
- Max Gain:: 16.49 points
This may have been premature, because BA is still moving down.
Trade active
It looks like BA may have found some support, and I'm liking what I see on the 1hr. I may add to this position today.Trade active
Added to position: 12/17 255C's @ 2.02.Trade closed: stop reached
Tough add yesterday, some might even say it was stupid.Solid close back in the wedge today, closed these positions:
11/26 235/255 @ .26, -87%
12/17 255C @ [B]1.1, -46%[/B]
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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.
Related publications
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.