- Whats The Plan/Trade/Thought
- This trade rides on retails overall tightening as a reaction to the Fed and the Global central banks raising their interest rates
Risk Mitigation - The action at entry shows the price testing the bottom S&R line. I think we can expect more bearish movement from retail but otherwise we have enough space to the strike
Imagine Yourself Taking The Other Side - This trade is simply following the larger market movement. SIG has had good earnings and I believe is a pretty decent company. So going long is an option just not when the overall market is bear
Look For New Information - No new information
How Do I Feel Now - I feel normal, a bit affected by the other trade ICLN. But we do what we can and take what the market gives us.
Trade Specs - Sold 160 Calls @ 0.25
- Strike 70
- 30.24% to Strike
- BP Used: 87k
- Max Gain: 3250
Trade closed: target reached
Yay!
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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.