MCD - McDonalds
Updated
MCD has sold off quite a bit here in the last few months and is hovering above this longer term support level. I decided to go with a asymmetrical set up using a call spread for this play.
+1 Dec21 155/170 call spread for $5.38 db.
Risk: Try to let price action stop me out at the project stop or manage near a 50% loser to keep the risk small.
Profit: Target hit (initially)
+1 Dec21 155/170 call spread for $5.38 db.
Risk: Try to let price action stop me out at the project stop or manage near a 50% loser to keep the risk small.
Profit: Target hit (initially)
Trade active
New stop loss moved up to $159.83. I have to move the stop up because with option spreads, as time passes, the options can sometimes loss value if they do not carry enough intrinsic value.Trade closed: stop reached
Price has been flirting with my stop all day, so closing here for a $6.56 db. Around a $118 winner, ~22% ROC
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