Description DHI's primary bull trend remains well-intact and has raced up after entering it's corrective intermediate down-trend beginning with setting its previous ATH in May. This is essentially a continuation play from the linked idea, when we played the break in the Descending Trend Channel, and gave the criteria for a new entry when the target was reached.
Today's break and close over its previous ATH close indicates that supply is exhausted and DHI is primed to make new ATHs.
Using Long Calls so as not to cap gains.
Long Call Levels on Chart SL < 104.45 PT : No price target set for the ATH, looking for a sharp move and then to roll a percentage of profits to more OTM calls. *Stops based off underlying stock price, not mark to market loss
The Trade BUY 12/17 106C
R/R & Breakevens vary on fill.
Manage Risk Only invest what you are willing to lose
Trade active
Filled @ 2.75
Trade active
I rolled forward and up, just over a couple days. Filled original trade @ 3.5, +27% In 1/7/22 110C @ 2.85
Comment
Taking note that I am short the broader market. I look to put on longs as a hedge.
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