EXR bullish again
Last week, EXR held a very nice support at $90.00. For a day or two, I am expecting a minor retracement back to $93.00 and then back to $100. The relative strength indicator is back above 50 and is showing a gain in strength/momentum to the upside. I am experimenting with a vertical spread by buying the 95 call and selling the 100 call expiration in December. I am expecting about 3-5 weeks for the stock to get back to $100.00. I bought the call spread for 225$ and in 3-5 weeks when stock is back to $100 per share, this trade will profit between $70.00-$100. The rate of return is 31% minimum and 44.4%. If I hold this trade till expiration in December, my max profit would be 275.00 or 122.22%. As earnings come within 3 months, I most likely would take any profits right before earning as volatility will increase the price of the call options and I could sell them for a higher price.
Note
Got rid of the long option when stock reached near 90$ a share. This trade was negative -150$.
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.