CVNA is slowly losing momentum. Recently released a debt issuance and it dropped its after hours trading lower to around $64.
CVNA could lose steam and change direction like it has in the past. I write a call at $45 and buy a call at $70 expiry is August 16th.
45/70 Credit Spread EXP AUG 16. $1570/930 Risk (May change after I put on trade)
Target exit is July at around $800-900 profit.
CVNA could lose steam and change direction like it has in the past. I write a call at $45 and buy a call at $70 expiry is August 16th.
45/70 Credit Spread EXP AUG 16. $1570/930 Risk (May change after I put on trade)
Target exit is July at around $800-900 profit.
Note
Max loss is $900 but my actual max loss if it makes new highs. I will take a max loss of $300Note
My Target will be assessed in July first week to determine if I should end the trade or if my targets are hit either loss target or profit target. A Lower profit may be taken if the movement to the downside is weak.Note
Breakeven is $60.7 at expiryOrder cancelled
Never put on this trade
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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.