If this wants to go higher I think it needs to clear 60.81 which can be a big hurdle I believe. I think we will get a bounce out of this demand for a potential small day scalp but other than that I’m not making any large moves on this.
Below 58.39 I think we go and revisit the 56 area. Above 60.81 I think it can push to 62. Until then, I’m staying out. I’ll watch if price moves up to the 60.81 supply and if it rejects there, I’ll do a small short with a close stop on it. I think that area is important because if it rejects I see good downside; breaks through and it can push.
NOTE: if just starting to do options, I think stocks like this are great places to start and learn. Staying close to at the money strikes is easier and learning to capture movements are great compared to dealing with the higher end priced stocks like googl, amzn, nflx, etc. that can swing $50 daily. I always will keep trades on with underlying like this. I go for consistency whether that’s moves of $100 or $1; 5% gains (or whatever amount) are the bigger picture for me
Below 58.39 I think we go and revisit the 56 area. Above 60.81 I think it can push to 62. Until then, I’m staying out. I’ll watch if price moves up to the 60.81 supply and if it rejects there, I’ll do a small short with a close stop on it. I think that area is important because if it rejects I see good downside; breaks through and it can push.
NOTE: if just starting to do options, I think stocks like this are great places to start and learn. Staying close to at the money strikes is easier and learning to capture movements are great compared to dealing with the higher end priced stocks like googl, amzn, nflx, etc. that can swing $50 daily. I always will keep trades on with underlying like this. I go for consistency whether that’s moves of $100 or $1; 5% gains (or whatever amount) are the bigger picture for me