Trade Entry
Before Earnings - Feb. 7 Expiry. Call Credit Spread. 1/3 Strikes. Credit of $0.75. Risk $125. Reward $75
After Earnings - Feb. 14 Expiry. Call Credit Spread. 1/3 Strikes. Credit of $0.87. Risk $125. Reward $87
Either strategy POP – 85.5%
While the Risk/Reward is not 1:1 or better (as preferred), sometimes these higher probability trades means giving more risk for higher probability of success.
I will place an order for this trade Monday. I will update if trade is entered (filled).
Chart Details
Recently filled gap, but Bearish trend is not finished.
My opinion – Downtrend in control means lower gaps filled unless white trendline broken. Stop at $2.
Gap to fill at $0.34 may not get filled, but price should head towards $0.90 gap fill.
Under $1 for long enough and de-listing may cause FOMO causing price to head back up towards $3.50 gap.
Bearish entry until downtrend is broken or gaps are filled.
About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Website will be ready for launch mid-January 2020.
Disclosure - I am long BTCUSD, GBTC. Short term GDX Bullish, SPXS Bullish, MCD Bullish
Before Earnings - Feb. 7 Expiry. Call Credit Spread. 1/3 Strikes. Credit of $0.75. Risk $125. Reward $75
After Earnings - Feb. 14 Expiry. Call Credit Spread. 1/3 Strikes. Credit of $0.87. Risk $125. Reward $87
Either strategy POP – 85.5%
While the Risk/Reward is not 1:1 or better (as preferred), sometimes these higher probability trades means giving more risk for higher probability of success.
I will place an order for this trade Monday. I will update if trade is entered (filled).
Chart Details
Recently filled gap, but Bearish trend is not finished.
My opinion – Downtrend in control means lower gaps filled unless white trendline broken. Stop at $2.
Gap to fill at $0.34 may not get filled, but price should head towards $0.90 gap fill.
Under $1 for long enough and de-listing may cause FOMO causing price to head back up towards $3.50 gap.
Bearish entry until downtrend is broken or gaps are filled.
About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Website will be ready for launch mid-January 2020.
Disclosure - I am long BTCUSD, GBTC. Short term GDX Bullish, SPXS Bullish, MCD Bullish