NIO Long Play

Dec 16, 2020

All info provided on the chart. Be patient with SMI, as some more selling-off is very possible, and set reasonable price targets. I plan on only purchasing a far OTM bullish put spread that's 1 month from expiry, and intend on closing that spread sometime within 2-3 weeks.

I'll try to keep this idea updated, including the exact contracts I may potentially purchase.

Happy trading!

Dec 18, 2020

Note

Entered +40 contracts of 15 JAN $44 calls at $44.50

Closed half of contracts at $47.20 (20.42% profit!)
Letting the other 20 contracts run ($48.53 price target, stop-loss at breakeven)