I entered this trade after seeing the huge support around 135 on IWM. I expect the trend to continue higher and will be targeting 143. If this trend continues strong and we see a channel breakout, I will be targeting 147.50. I bought the 136 July 14th call and will be holding until my first targets. This option is already way ITM and is already at 100% profit.
Comment:
I decided to take off the call option because of the selloff in tech. It made me nervous and it hit my first target of 143. I originally bought the option on 05/31/17 and sold it on 06/09/17. Original price for the option was 2.40, and I sold it for 7.14. I held it for a little over a week and realized a 2.9x multiple and a $474 gain.