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Home › Forums › Closed Trades › [CLOSED +32%] Breakout in FB
Setup: Breakout
Price: 30 minute close above 115
Description
Massive shakeout under 110, and as it stands it’s holding up constructively. If we see a move above 115 that means all the selling inventory for basically an entire month has been cleared and we’ll trade back up to 120.
I like bull call spreads here… keep an eye out for earnings as that could end up being a risk.
I’ll be waiting for the breakout to confirm rather than trying to anticipate the trade.
In at 2.30
118.70 was hit today, so time to sell half:
Full Time Profits Order Ticket | ||||
Type | Asset | Duration | Strike | C/P |
---|---|---|---|---|
STC | FB | Aug | 115 | Call |
BTC | FB | Aug | 120 | Put |
Total Credit: | 2.83 |
Taking profits on the rest. It’s gone on a great run into earnings, and the gap higher is failling a little bit. I’d rather keep the profits, avoid earnings, and look for another setup in the stock.
Full Time Profits Order Ticket | ||||
Type | Asset | Duration | Strike | C/P |
---|---|---|---|---|
STC | FB | Aug | 115 | Call |
BTC | FB | Aug | 120 | Put |
Total Credit: | 3.28 |