🔎 Chart Analysis (1H)
• Current price: ~$34
• Support: 32–33 zone (recent bounce area)
• Resistance: 35–36, then 40 (major target)
• Structure: Multiple BoS (Break of Structure) and CHoCH levels show accumulation and trend reversal signs.
• Bias: If it holds above 32, the move toward 40 looks possible by September.
⸻
🎯 Options Play Ideas (Target = $40 by September)
1. Bull Call Spread (Defined Risk)
• Buy Sept $35 Call
• Sell Sept $40 Call
• This lowers cost vs straight calls and defines max profit.
• Breakeven ≈ $36 (depends on premium), max gain if CHYM hits $40+.
2. Straight Call (Aggressive Play)
• Buy Sept $35 Call
• Higher cost, unlimited upside, but theta decay risk if CHYM stalls.
3. Cash-Secured Put (If okay owning stock lower)
• Sell Sept $32.5 Put
• Collect premium. If stock stays above 32.5, you keep it. If not, you’re assigned at effective discount.
4. Diagonal Call Spread (If expecting a gradual move)
• Buy Sept $35 Call
• Sell Aug $37.5 Call
• Reduces cost, profits from slower grind up.
• Current price: ~$34
• Support: 32–33 zone (recent bounce area)
• Resistance: 35–36, then 40 (major target)
• Structure: Multiple BoS (Break of Structure) and CHoCH levels show accumulation and trend reversal signs.
• Bias: If it holds above 32, the move toward 40 looks possible by September.
⸻
🎯 Options Play Ideas (Target = $40 by September)
1. Bull Call Spread (Defined Risk)
• Buy Sept $35 Call
• Sell Sept $40 Call
• This lowers cost vs straight calls and defines max profit.
• Breakeven ≈ $36 (depends on premium), max gain if CHYM hits $40+.
2. Straight Call (Aggressive Play)
• Buy Sept $35 Call
• Higher cost, unlimited upside, but theta decay risk if CHYM stalls.
3. Cash-Secured Put (If okay owning stock lower)
• Sell Sept $32.5 Put
• Collect premium. If stock stays above 32.5, you keep it. If not, you’re assigned at effective discount.
4. Diagonal Call Spread (If expecting a gradual move)
• Buy Sept $35 Call
• Sell Aug $37.5 Call
• Reduces cost, profits from slower grind up.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.