Shared by
tradelikelarry
Trade Planning:
- Hourly Chart: Uptrend, Consolidation below recent highs.
- TTM Squeeze: n/a
- Earnings Date: 4/29-
Reason For Entry:
- Playing 1h chart. BA is in a pattern of consolidation below recent highs. Price retraced to the buy zone (between 13ema and 30ema) and opened the position at 1 contract (3% of portfolio). Looking for BA to make a move to new highs. Will close position if price breaks the 30ema support area.
Reason For Exit:
- BA rallied to resistance point (fib 61.6% level) I closed my 1 contract for a 55% win.
Recap:
- The entry was spot on in my buy zone (between the 13 and 30ema). BA rallied to a key resistance level (fib 61.8%) and closed my 1 contract for a nice 55% win. It is always good to take profits, especially in this choppy market.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-04-08 16:23:32 | 24 APR 20 160 CALL | buy | $7.350 | long |
| 2020-04-09 10:58:31 | 24 APR 20 160 CALL | sell | $11.250 | 0 |
Comments
tradelikelarry
Hi Manowar41, yes, BA is very volatile. These specific options cost me $735 for 1 contract. I had planned to exit the trade below the 30ma ($142.5 area) and my target was the fib 61.8% level ($155.5 area). Essentially, at my entry, my risk to reward was 2:1.
manowar41
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!
Tradings Pattern 210, hey how you made the call options in BA. I always play BA, due to the price actions. How much 1 contracts cost you and profit and risk of lost?