Description BA gapped out of the pattern, a strong signal, and made a nice bullish candle on strong volume. We'll be looking for this move to continue. Related idea linked, almost entered on friday, but didn't quite cut it.
Using A call debit spread, because profits are always limited by time.
Call Debit Spread Levels on Chart SL is a daily close back in the wedge. *Stops based off underlying stock price, not mark to market loss
The Trade BUY 11/19 235C SELL 11/19 255C
R/R & Breakevens vary on fill. The long call is placed ATM for higher chance of profit, The short call is placed at a reasonable expected level of price within the expiration time. The front-week options play is to capitalize on a swift movement following the break.
Manage Risk Only invest what you are willing to lose
Trade active
Filled @ 2.4.
Trade active
I rolled this position forward. Old position closed for .96, - 60%. New position opened for 2.07
New Position: 11/26 235/255
Max Loss: 3.51 points
Break-even: @ 238.51
Max Gain:: 16.49 points
This may have been premature, because BA is still moving down.
Trade active
It looks like BA may have found some support, and I'm liking what I see on the 1hr. I may add to this position today.
Trade active
Added to position: 12/17 255C's @ 2.02.
Trade closed: stop reached
Tough add yesterday, some might even say it was stupid. Solid close back in the wedge today, closed these positions: 11/26 235/255 @ .26, -87% 12/17 255C @ [B]1.1, -46%[/B]
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