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Home › Forums › Closed Trades › [CLOSED -63%] Breakout in CRM
Setup: Breakout
Price: 82.50
Description: After a shakeout back down to 76, the stock is flirting with all time highs again. I would prefer some more conslidation, but this has the look of a setup that is not going to wait for a lot of people to get onboard.
On a 30 min close above 82.50, the Aug 82.50/85 bull call spread for 1.02 is a good trade.
Target 1: 84
Stop loss: 79.50 initially, will move it higher if price continues to perform.
CRM has cleared 82.50, here is the trade:
Full Time Profits Order Ticket | ||||
Type | Asset | Duration | Strike | C/P |
---|---|---|---|---|
BTO | CRM | Aug | 82.5 | Call |
STO | CRM | Aug | 85 | Call |
Total Debit: | 1.06 |
Stop loss of 79.50
Yes, I do realize that this trade is coming in at the last third of the market rally, but the setup still looks great.
Taking a loss on this trade as there is only 2 weeks left until August expiration and the time decay risk is too great.
Full Time Profits Order Ticket | ||||
Type | Asset | Duration | Strike | C/P |
---|---|---|---|---|
STC | CRM | Aug | 82.5 | Call |
BTC | CRM | Aug | 85 | Call |
Total Credit: | 0.39 |
If CRM manages to close back above 82 I’ll enter into a September call spread.