Whats The Plan/Trade/Thought
- Signet Jewelers is a retailer of diamond jewellery. With the concerns of the recession, the cooling signs of the job market, layoffs in tech and the overall retail leadership cautiousness during the earnings. I think this is the right direction especially since it is following the larger market direction
- US retail sales also post the first drop in 5 months as auto purchases plunge and inflation bites
Risk Mitigation - Have two S&R lines before my strike at 69.49 and 65.35. If price breaks 69.49 (7% from strike) will have to start closing this position
Imagine Yourself Taking The Other Side - It just feels dangerous to be bullish especially since we have seen days where all sectors are red
Look For New Information - No new information
How Do I Feel Now - I feel confident about this trade
Trade specs - Sold 110 Calls @ 0.5
- Strike 75
- 29.33% to Strike
- BP Used: 66K
- Max Gain: 5.5k
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.