Crude Light Long
Nice run - and seeing a nice bullish setup for Oil. Oil runs with Fibs incredibly and I think at this level of near support the momentum in the market today - risk is favoring the bull side into tomorrow.
Entered trade at 47.42
Expecting mean reversion on the daily - RSI is very bullish (on daily) and tagging the 20dma is almost a certainty. That would put oil at $50.52
Go long king kong. #CrudeFutures
Positions are in:
/CLK0
Purchased $47 Calls
Sold $48.5 Calls
Strong directional bias with only a theta decay of .666
Cost $790 per lot
Max loss is $790
Max gain is $710
Probability of profit is 46%
Not a long term trade but happy to camp out in the position for awhile with theta decay so low for a strong bullish bias.
Entered trade at 47.42
Expecting mean reversion on the daily - RSI is very bullish (on daily) and tagging the 20dma is almost a certainty. That would put oil at $50.52
Go long king kong. #CrudeFutures
Positions are in:
/CLK0
Purchased $47 Calls
Sold $48.5 Calls
Strong directional bias with only a theta decay of .666
Cost $790 per lot
Max loss is $790
Max gain is $710
Probability of profit is 46%
Not a long term trade but happy to camp out in the position for awhile with theta decay so low for a strong bullish bias.
Note
So far a bad and ill advised call. -13%
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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.