Massive Risk/Reward RIght Now In Grubhub
Updated
GGRUB Is sitting right on support for the channel it has been surfing. This has a ratio of about 37:1 in favor of risk to reward due to this. Stop loss can be set just below support line at 55.50, which only allows for a 1.65% loss before cutting out. However, if it does catch on this trend line support, it allows for the possibility of the entire run back up to channel resistance, which is an over 37% gain! Now that's what I call low risk/high reward trading! Could play this straight up with stocks, or could play options instead, which I heavily favor for trading. I personally like Sept 20th C65, currently available for about 42 bucks per contract. Keep the stop loss where its at, let the trade go if it breaks below. Plenty of opportunity in the market, don't get caught in only one! Happy hunting and GLTA!!
Trade closed manually
Bought one Sept 20th C63 for .60, sold today for 1.11. Going elsewhere for now. May be back on a retrace back below 58.
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