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Stock is in a great uptrend, it hasn’t gone anywhere since Christmas, and I’m expecting it to run in anticipation of its earnings event.
The stock just broke underneath an “obvious” stop loss level, so I’m using that breakdown candle’s high as an entry point. If it doesn’t clear that candle then it’s not a trade.
On a move above 94, buy the DIS Feb 95 calls for 1.35
Stop at 92.71.
Scale half at 94.95.
I want to either be out by earnings or at least taken profits on half as the stock heads into earnings.
Stop was hit– couldn’t find any buyers over the past few days and it’s getting nailed along with the market weakness. Long term trend still is in tact so we’ll see what happens after earnings for potential reentry.
Sell to close Feb 95 calls @0.60 or higher (the hard stop would have you exiting at 0.90 but I’m just quoting prices at the time I’m writing this out).
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