Breakout Long in BIDU

This topic has 2 replies, 1 voice, and was last updated 8 years ago by Steven Place.

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June 24, 2014 at 9:07 am #2435

Steven Place
Keymaster

After the small dip and recovery this morning, I am comfortable with anticipating the breakout just a little bit.

Buy to open Jul 180 calls at 4.50 or lower.

Stop 172.49

Planned per contract risk: 212

By anticipating the breakout I reduce my overall risk in exchange for lower odds in the trade.

June 24, 2014 at 10:12 am #2437

Steven Place
Keymaster

Sell 1/2 at 7.30 as we’ve hit 1R

June 26, 2014 at 8:40 am #2436

Steven Place
Keymaster

OUt the rest at 7.75– stock has been up 4 days in a row, into the upper BB, and just flipped red.
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