[ X ] United States Steel Corp short call vertical spread
Cập nhật
Lazy day, lazy trade.
My Iron Condor Hunter script indicated a potential iron condor for this instrument for the 12 - 23 range.
Let's check for the best setup for this signal.
(1) Basic TA to background check
After a quick TA I judged it too risky, because it limiting the downside potential correction.
The script indicated good ranges in the past 4 years, but now I'm a little bit hesitating about the downside move limit.
The script shows me 12$ as secury bottom target in the next 30 days, but the lowest low may be ~10$, based the green trendline
(2) Murrey Math levels
-1/8 and +1/8 are used for some kind of attempt to catch a trend reversal. -1/8 is an extreme support level during a bearish trend , while +1/8 is an extreme resistance during a bullish tendency.
A test of these lines indicates that the current trend is weakening. As a rule, the price doesn’t revers here and starts corrections towards 0/8 and 8/8. After that, the previous trend resumes.
On the weekly perfectly fit to my Murrey Math Lines Auto +1/8 script.
(3) Daily divergence
Divergence on daily chart , without any more comment..... Indicated local correction.
Breaked down my custom oscillator => correction validated.
CONCLUSION:
Modifying the strategy from the originally planned Iron Condor to Vertical Spread.
Sell 1 X Apr16' 21 call
Buy 1 X Apr16' 23 call
Max profit: ...... $80
Max loss: ......... $120
IVR: ................... 18.3
Probability of Profit: 73%
Expiry: .............. 45days
Strategy: Short call vertical
[u]Risk management: [/u]I'm closing the trade immediately - if the daily bar closing outside my strikes - and I'm cutting my loss. (no matter what I'm believing)- usually I'm losing mutch less than my max profit in this case. Danger zone starts at 20.28$
[u]Profit management:[/u] I'm sending an order at the 50% of max profit, immediately after my position opened - as usually.
My Iron Condor Hunter script indicated a potential iron condor for this instrument for the 12 - 23 range.
Let's check for the best setup for this signal.
(1) Basic TA to background check
After a quick TA I judged it too risky, because it limiting the downside potential correction.
The script indicated good ranges in the past 4 years, but now I'm a little bit hesitating about the downside move limit.
The script shows me 12$ as secury bottom target in the next 30 days, but the lowest low may be ~10$, based the green trendline
(2) Murrey Math levels
-1/8 and +1/8 are used for some kind of attempt to catch a trend reversal. -1/8 is an extreme support level during a bearish trend , while +1/8 is an extreme resistance during a bullish tendency.
A test of these lines indicates that the current trend is weakening. As a rule, the price doesn’t revers here and starts corrections towards 0/8 and 8/8. After that, the previous trend resumes.
On the weekly perfectly fit to my Murrey Math Lines Auto +1/8 script.
(3) Daily divergence
Divergence on daily chart , without any more comment..... Indicated local correction.
Breaked down my custom oscillator => correction validated.
CONCLUSION:
Modifying the strategy from the originally planned Iron Condor to Vertical Spread.
Sell 1 X Apr16' 21 call
Buy 1 X Apr16' 23 call
Max profit: ...... $80
Max loss: ......... $120
IVR: ................... 18.3
Probability of Profit: 73%
Expiry: .............. 45days
Strategy: Short call vertical
[u]Risk management: [/u]I'm closing the trade immediately - if the daily bar closing outside my strikes - and I'm cutting my loss. (no matter what I'm believing)- usually I'm losing mutch less than my max profit in this case. Danger zone starts at 20.28$
[u]Profit management:[/u] I'm sending an order at the 50% of max profit, immediately after my position opened - as usually.
Ghi chú
Exciting price action today. Danger zone reached.
At this moment the potential loss if I would close the trade now: 62$ (max profit 80$)
Let's see tomorrow!
Giao dịch được đóng thủ công
Big move upside today.I'm not risknig any more move to the upside.
That was 102$ loss. (Original profit target was 80$).
Sold 0.80cr originally, bought back today for 0.182db
Boost up your charts with Options PRO!
REAL Options metrics for over 165+ liquid US symbols:
✔ 𝗔𝘂𝘁𝗼-𝗨𝗽𝗱𝗮𝘁𝗶𝗻𝗴 𝗚𝗘𝗫 𝗹𝗲𝘃𝗲𝗹𝘀
✔ IVRank ✔ CALL/PUT skew ✔ Volatility Skew ✔ Delta curves
👉 7-day TRIAL 🌐 TanukiTrade.com
REAL Options metrics for over 165+ liquid US symbols:
✔ 𝗔𝘂𝘁𝗼-𝗨𝗽𝗱𝗮𝘁𝗶𝗻𝗴 𝗚𝗘𝗫 𝗹𝗲𝘃𝗲𝗹𝘀
✔ IVRank ✔ CALL/PUT skew ✔ Volatility Skew ✔ Delta curves
👉 7-day TRIAL 🌐 TanukiTrade.com
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.