COF - Capital One Drop and Pop LONG
Updated
COF is shown on 1 15 minute chart. The trade idea is to play the drop in a bank stock as a
reaction to the sticky inflation report and the idea that a rate cut already baked into stock
price is about to come off the table. This is a risky reversal trade. However, with risk comes
reward. The idea is on the chart. I will take a long trade here anticipating a return of 2%
and about seven times risk. A call option for an expiration of 4/19 will also be in the position,
striking 141. See also https://www.tradingview.com/chart/NYCB/3IcDj8Rc-NYCB-could-bounce-back-from-the-inflation-report-LONG/
reaction to the sticky inflation report and the idea that a rate cut already baked into stock
price is about to come off the table. This is a risky reversal trade. However, with risk comes
reward. The idea is on the chart. I will take a long trade here anticipating a return of 2%
and about seven times risk. A call option for an expiration of 4/19 will also be in the position,
striking 141. See also https://www.tradingview.com/chart/NYCB/3IcDj8Rc-NYCB-could-bounce-back-from-the-inflation-report-LONG/
Note
Chart with Price Volume Candles and trend indicators Note
Sideways today. Patiently watching and holding.
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