Long
HYLN at good support level.
Trade execution:
Enter into long term call options position.
Looking at a strike price of 25.
Looking at expiry January or February next year.
If you buy into the options, they will be a hold for as long as the level of support is not broken. As long as its not broken, we are in accumelation stage for the calls.
The longer it stays at level of support, the more we can accumelate, the same call options will get cheaper and cheaper.
The calls will move nicely once the share price moves to the upside.
A break below support invalidates the trade entirely. However, the longer we stay at support, the more confidence we have in that level of support.
Enter into long term call options position.
Looking at a strike price of 25.
Looking at expiry January or February next year.
If you buy into the options, they will be a hold for as long as the level of support is not broken. As long as its not broken, we are in accumelation stage for the calls.
The longer it stays at level of support, the more we can accumelate, the same call options will get cheaper and cheaper.
The calls will move nicely once the share price moves to the upside.
A break below support invalidates the trade entirely. However, the longer we stay at support, the more confidence we have in that level of support.
Note
I entered at 18.11 avg price. stop loss will likely be 17.60-17.80.
Note
Today I also entered a position of two Calls expiring April 2021 strike price of $25.Note
Profit taking targets if it keeps up being bullish: at 23.87$
I will sell one of the calls and likely 1/3 to 1/2 my equity position.
Perhaps Ill make my equity position free and hold the rest till the 39 target.
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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.