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DPZ at 333.78
The chart is setting up bullish with MACD bullish cross and TTM Squeeze fired long.
I’m looking for a move towards 360-370. This is a 30×20 Broken Wing Call butterfly. Our best case is this stock trades around the short strike near expiry. The worst case, we’re risking the debit paid for this trade. If the price does not reach 348 by expiration, the debit paid is at 100% risk.
Risk Profile:
Order Ticket:
DPZ at 344.50
I’m going to roll the long 340 call up to 350 strike, collect a credit and make it a balanced call butterfly for now
Risk Profile:
Order Ticket:
DPZ at 347.45
I’m going to roll the wings closer to the body of this butterfly. This is going to remove all of the risk out of the trade and we can hold longer to see if we get close to the center strike for a possible pin play.
Risk Profile:
Order Ticket:
DPZ at 356.69
This is a closing trade:
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