Long Options Trading: GLD Buy Call $181.5 Exp: 10/09

Understanding The trade:
As an options trader my goal is to identify trend change and utilize a breakout strategy to leverage profit off of major trend changes with minimal risk. Even though this contract does not expire till 10/09 I will be looking to take profit by October 6th as the rate of decay factor starts to come into play as the contract approaches expiry. This should correlate nicely with the downward sloping trend that has been resistance since August 17th. If you have any questions, please feel free to comment below and follow. Thank you and trade safe.

Reasons For Trade:
• Following upward trending channel
• Weakness in the USD Dollar after Trump announces he and his wife have COVID-19
• RSI validation on rejection of a break lower

Trade Parameters:
• Broker: Robinhood
• Cost For Entry: Free
• Contracts: 1
• Entry Price: .69
• Risk: $69
• Reward: $138
• ROI: 100%
• Risk/Reward Ratio: 1:1
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