Long

Retest of 200 day Moving Average inbound!"

Updated

Retest of 200 day Moving Average inbound!

“Reversion to the mean is the iron rule of the financial markets." ~John C. Bogle

Seems to be forming a nice support around $10

Recent Upgrades by Analysts + Positive earnings = upward price action

Long $10 Calls Nov 5/21
Price Target: $12

Trade active

Opened new short-term position: $10 Calls Oct 10/22

Higher risk/Higher reward for a bounce. NYSE:BB seems like the springs are being loaded - when the market sentiment swings I suspect this will be primed for a healthy upward uncoiling

Trade closed: target reached

Closed out half of my position at 300% profit mark on some older 10/15 calls - letting the bag run on the other half.

Trade closed: target reached

Closed out remaining $10 10/15 Calls to lock in some outsized gains as I am seeing some signs of potential exhaustion;

Opened a new FOMO position of QTY: 50 $11 Calls for 10/15 just in case the upward action resumes sooner then anticpated.

We may see a healthy return to $10 mark to establish a new floor, and I believe this is likely before we see breakthrough of $10.50 resistance

Trade active

Price is once again hovering around the daily closing average of $10.21
Will we see the spring loaded NYSE:BB begin to uncoil this week?

New Position: QTY:100 $11 Strike Calls

Trade closed: target reached

Closing out my position of QTY:200 $11 Calls at 500% profit

There is plenty of room for this to run but it is critical that we maintain discipline and take profits when volatility runs up the premium on contracts.

Let's see if the uncoiling continues through mid-week or if we have a retest around $10.50 before it continues the run!

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.