Shared by
GH0ST_0P
20 MAR 170C
I think the market is about to cycle down or pullback, however I really like this railroad setup going on for this largely sideways stock- albeit with a bearish bias (it is below the 200dma).
Method
RSI Oversold (36)
Bollinger Band Pierced (Feb12-14)
Railroad reversal off strong support @ $162 area
5Wk Expiry
Risk / Reward = 3R
Money Management
Risked 5%
Exit Strategy
$200 resistance at the top of the channel coincides with the upper Bollinger Band. Will shoot to get out just below that area.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-02-18 09:48:59 | 20 MAR 20 170 CALL | buy | $8.600 | long |
| 2020-02-18 14:39:01 | 20 MAR 20 170 CALL | buy | $8.800 | long |
| 2020-03-16 09:50:50 | 20 MAR 20 170 CALL | sell | $0.2500 | long |
| 2020-03-16 09:50:50 | 20 MAR 20 170 CALL | sell | $0.2500 | 0 |
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