$UVXY to $100+

Unfortunately many of my charts were removed by a moderator for having private indicators on them (which I didn't realize was a thing), so I have to repost them.

If we look at the chart, we broke out of a bull flag and are now testing a very strong support level.

You can see we've bounced off of that level multiple times. I think we bounce off of this level again and continue higher from here.

I have no clue what the cause for this move will be, but it looks like we're set for a large move up to the $98-106 resistances with possibility for an extended move up to the top resistances.

Let's see how it plays out over the coming weeks. Key dates and levels on the chart.

Trade active

Bought $40C and $60C for 5/2

Note

Bought some $130C for 6/20 just so I don't need to worry about timing.

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I've added a ton for 6/20, think that's the safest bet here so I don't have to worry about time.

Note

Bought for 5/16 and added more for 6/20. 6/20 $130C is now my largest position.

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I continue to accumulate down here for 5/16, 6/20. On my past chart that got deleted, I had support at $28.73, so as long as we're above that level, I'm accumulating.

Looks like we should see a large move soon.

Note

Today looks like the start of the larger move. I took some profits on some of my 5/2 options this morning on the spike but think we could see continuation.

Let's see what tomorrow brings.

benjihyam

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benjihyam

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