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OIH at 250.61
The chart is suggesting we’re headed higher.
This is a 15pt wide call debit spread. I’m going to assume full risk and might stop out if the chart turns bearish.
We need 258 by OCT expiry for this trade to be profitable (at expiration).
Chart:
Risk Profile:
Order Ticket:
OIH at 242.68
I’m going to make an adjustment to reduce risk as we’re getting closer to expiry. 16 days left.
While the chart looks decent here with price breaking above a declining trend line, MACD bullish and crossing above 0 line, the problem I have is that my pos has 16 days until expiry
Chart:
We need to get above 250 in 2 weeks or this trade is going to be down most of the premium paid
Here’s one way I can adjust to fix the problem
Selling the long 245 call in the 21OCT expiry and buying a 257.5 call in the 28OCT expiry.
This is a 3.10 credit trade, which means my risk will go from 7.35 to 4.25Here’s how this will change the risk profile for this trade:
Risk Profile:
Order Ticket:
OIH at 247
We dont have much time left in this trade and I’m going to take a small loss here.
Risk Profile:
Order Ticket:
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