SNAP at support and extended - LONG

At the WL1, price is clearly extended and I look for a Trade up to the L-MLH at least.
(if you don't know what L-MLH means, it's the Lower-Medianline-Parallel - checkout my free course).

Another fact that I want to bring to your attention is, that price reacts very nice at the lines of the Fork - even with all the GAPS in between...

I wish you all a happy and profitable new week.

P!

Kommentera:

Still in it, but time is ticking away, since it is a pure Options play, in fact a RiskReversal with a net credit.

If you work with RiskReversal, always make sure that you get a net credit.
This way, if the trade does not move beyond your short Put, but also not above the long Call, then at least you have payed to roll the dice and hopefully a little on top.

P!

Trade stängt manuellt:

With only 16 days to go, I close this RiskReversal with a tiny profit of $45/lot.