XOM Long, at Demand Zone
High quality Fresh Demand Zone ;
RSI Divergence
Entry 33
Stop 30
Target 41; reward:risk=2.5:1
Target 46; reward:risk=4:1
10/30/2020 Earning. Normally, one day before earning, IV will be higher.
I will try option strategy according to earning.
See detailed steps in Trade Active section.
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
RSI Divergence
Entry 33
Stop 30
Target 41; reward:risk=2.5:1
Target 46; reward:risk=4:1
10/30/2020 Earning. Normally, one day before earning, IV will be higher.
I will try option strategy according to earning.
See detailed steps in Trade Active section.
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
Trade active
Option trade: BuytoOpen Jan C35, limit 2.05; Strategy according to earning:
Step1: Buy Jan 35 Call (2.05) , Stop 30, loss 1.2
Step2: Before earning day, if price goes sideway, then close this position; (loss 0.9)
Step3: if price goes Up to 38, then sell C45/55 x 2 (0.6x2=1.2);
Reduce risk to 0.7 and hold C35/45/55 butter fly. (Idea reward:risk=10:1)
Trade active
sell Jan 37.5 limit 1.51; current cost 0.54, hold C35/37.5Oil sector is too weak, I do not hope too much.
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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.
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.