Wed Feb 3
Popping high in PM and at open set HOD at $53.24. Quickly came back down toward the 21 EMA at $47. This is an EV play with a $55 target for next week and 0 theta decay. Bought the $48calls and sold the $55 calls for $2.50 debit with max profit of $4.50 (Risking $2.5K for $4.5K). We had some solid pullbacks to support with confirmation candles, with 10x bars and squeezes on the 30m/1h/2h/4h/D/W. We broke through the 30m cloud today and based on it.
Finviz showing a 32% short float.
By close, we completed the 38.2% retracement and next target is the 61.8% next week ($56.59)
Fri 2/5
Had a nice pop to the 50% retracement level and got stuffed at the $55.50 level and started to come back down. Still outside of the 30m cloud and ideally want to hold here for a continuation next week.
Mon Feb 8
Gapped above the news and started to hold the $53.98 key level and ripping above the $55.5 key level in the first 5 minutes. Closed it here and could have captured more premium on this as we had a HOD of $58, but happy with taking profits here. In at $2.50, out at $4.55.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-02-03 10:19:26 | FEB12 21 48 CALL | buy | $5.740 | long |
2021-02-03 10:19:26 | FEB12 21 55 CALL | sell | $3.240 | short |
2021-02-03 10:19:27 | FEB12 21 48 CALL | buy | $5.740 | long |
2021-02-03 10:19:27 | FEB12 21 55 CALL | sell | $3.240 | short |
2021-02-08 09:33:35 | FEB12 21 55 CALL | buy | $3.220 | 0 |
2021-02-08 09:33:35 | FEB12 21 48 CALL | sell | $7.770 | 0 |
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