Whats The Plan/Trade/Thought
- This position is a hedge as it is Market wide bullish inclined
- However I gave it a good 39.7% distance from the strike to account for market volatility that I expect to happen especially with the Sep rate hikes
Risk Mitigation
- The 39.7% distance from strike should cushion market volatility but also there are 2 near S&R lines at 14.28 and 15.31
Imagine Yourself Taking The Other Side
- The position feels like it is somewhat feeding into the bullish momentum we have been seeing in the past 2-3 weeks. But I do expect this to change
Look For New Information
- Now that earns session is close to over, I am expecting the next few week to be somewhat mellow. At least until we hit the first weeks of Sep where traders start anticipating the rate hikes
How Do I Feel Now
- I think this trade is cushioned enough with a good price balance
Trade Specs
- Sold 240 Calls @ 0.22
- Strike 19
- 39.7% to Strike
- BP Used: 60,480
- Max Gain: 5198
Operación cerrada: objetivo alcanzado:
Yay!