BA Trade Setup into Earnings by Fib Retrace / Volume ProfileBA is shown on a marked up 120 minute chart with a Volume Profile and Fibonnaci retracement
levels as well as the trend angle reversal at the consolidation upon finding support at the
bottom of the high-volume area of the profile. The fib levels suggest targets. Risk in the trade
is after earnings reports of "beats" will drive the action higher or "misses" will cause a down
trajectory. Volatility will increase as the earnings date quickly approaches. Some traders may
want to close a winning trade just before earnings or take a predominant partial close leaving
the the rest to move through the storm looking for blue sky.
I have a risk appetite here. I will take call options for February 5th striking OTM at $240.
I will cut them no later than 24 hours before earnings or when they hit 200% if that happens
beforehand.