TGIF for AAPL for onboarding was under selling pressure for May 10,2021. As a result, the LONG CALL positions 131C are under some pressure and require a hedge in case the market collapses. So we picked up ROKU 275p weeklies at 0.86 slightly less than 15% of the initial position size. Generally, when the markets are trending higher, a hedge is not usually required but due to seasonality and apparent weakness in NQ it is best to place this hedge in case the market begins to sell off for the entire week. Risk and reward is shown in the chart from the purple darvas channel and the earning gap fill remains open 284.89. Break below 272.41 opens the door down to 250 very fast and weekly hedge may cover the tgif aapl 131C.
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Website: tosoption.com
Discord: discord.gg/b2s56tmVgC
Free Checklist: subscribepage.io/gap_reversal_checklist
Youtube: youtube.com/@TOS_OPTION
Website: tosoption.com
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.