MU Trade on Mar 21, 2019 10:02 from kerobo0000: Tradervue User Stock Trades.

2019-03-21 15:06:08
Rationale:
-MU reported earnings yesterday after the close (I have a ratio spread on in Apr expiry so i've been keeping a close eye on this name)
-the stock gapped up right to the POC and then had a strong opening drive from there
-the stock broke then pulled back from the downtrend line (from 5/30/18 at the ATH) and found support at VWAP, which triggered the entry signal - entered at 10:02a

Reasons for entry:

-catalyst: earnings
-consolidation into VWAP on lower volume
-in an uptrend
-elevated RVOL (in the equity and option contract)

Trade Planning
-structure: long call -> call debit spread
-major support: $41.75
-major resistance: $44 (200d moving avg), 44.65
-add point: watch - can buy some 44 calls when there is more momentum
-stop loss: leg out of spread if it breaks major support
-take profit price / risk-reduction plan: if MU continues to rise, sell 1 more 43 call to improve cost basis (if not, exit 42 call)

2019-04-25 23:57:29
-today shares rallied to 2017 resistance and reversed immediately, trading down through every level of support and continued into A/H (due to INTC weak earnings guidance)
-trade went from being slightly in profit to back down to a big loss (will likely be bigger if MU continues down); when i've been holding for a long time (over a month in trade), have to exit quickly if I get the opportunity to do so
-will decide what to do on the open, if it shows a bunch of weakness and market is weak, I may cut losses (it is under $42 now so doesn't have intrinsic value and time decay will accelerate if $42 strike stays OTM)