Apple long to 170 with active options swing trade
Updated
Entered into an apple swing trade yesterday near the end of the day with a 2 to 1 call/put ratio. Closed short leg today during consolidation after initial breakout, and holding long leg to capture the rest of the daily momentum.
Will look for another swing entry near the end of today.
Will look for another swing entry near the end of today.
Note
PA was able to break out of the 164 resistance and is now running into 15m $165 resistance point Definitely looking for an exit on the 162.5 calls now. Need to avoid end of day whale dumps
Trade closed manually
Note
The option strategy used for this trade is called a Strap and is a modified straddle where 2 ATM calls are offset by a single ATM put (couldn't remember the name of it earlier and had to look it 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.