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Compression Breakout in BHI

Home › Forums › Swing Trades › Compression Breakout in BHI

  • This topic has 1 reply, 1 voice, and was last updated 8 years ago by Steven Place.
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  • June 2, 2014 at 8:36 am #2448
    Steven Place
    Keymaster

    After a nice gap higher, the stock has done nothing for two months. With the strength in the oil space, this name is ready to run.

    bhi

     
    Here’s the trade:

     

    Buy to open BHI Jul 72.5 calls for 1.65 or lower.

    Stops at 69.47.

    June 9, 2014 at 8:41 am #2449
    Steven Place
    Keymaster

    It has broken out, and it’s in the second day of its breakout with probably some more upside… but it is also extended on a short term basis.

    Sell 1/2 Jul 72.50 calls @2.25

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