Our call trade with Nasdaq ETF SQQQ has ended hitting the stop loss. The call was sold for $0.89.
On the flip side, we day traded an Oct 9 SPY $289 put for over a 60% return. We purchased the put for $0.66 and sold it for $1.14.
Reasons for both trades are below
- (SQQQ) With expiration next week, a tight stop loss was used.
- (SPY) There were clear technical and news level pressures on the ETF. We always intended to sell before the end of the day.
**
This blog is used for informational purposes only. It should not be
used as a recommendation to buy or sell any security. Do your own due
diligence before trading or investing. If you would like up to the
moment communication on KDK Options trades, email at
kdkoptions@gmail.com **
Showing posts with label Technical Analysis. Show all posts
Showing posts with label Technical Analysis. Show all posts
Wednesday, October 9, 2019
Thursday, July 14, 2016
Bank of America W Formation on Daily, Weekly, and Monthly
When looking at the different charts for Bank of America, there is a growing likelihood that a W formation is being created. If you look at the daily, weekly, and monthly charts (below), you can start to see the rise from the second bottom on each chart.
The daily is actually in its extension phase of its W formation. So there likely will be some resistance at the $14.00 level. With earnings coming next week, there is a chance it could reach beyond $14.00. The 1.68 Fibonacci extension from the middle of the W to the second bottom of the W would put the W finishing at $14.01.
If the weekly is to follow, the likely 1.68 Fibonacci price extension for it would be $17.04 and the 2.00 Fibonacci extension would be $18.00, which is where a massive resistance is located. The monthly chart says the same in regards to price points.
As always, this is just one opinion. Please do your own due diligence before trading or investing. Thanks to Optionsxpress for the charts.
Daily
Weekly
Monthly
** This blog is used for informational purposes only. It should not be used as a recommendation to buy or sell any security. Do your own due diligence before trading or investing. **
The daily is actually in its extension phase of its W formation. So there likely will be some resistance at the $14.00 level. With earnings coming next week, there is a chance it could reach beyond $14.00. The 1.68 Fibonacci extension from the middle of the W to the second bottom of the W would put the W finishing at $14.01.
If the weekly is to follow, the likely 1.68 Fibonacci price extension for it would be $17.04 and the 2.00 Fibonacci extension would be $18.00, which is where a massive resistance is located. The monthly chart says the same in regards to price points.
As always, this is just one opinion. Please do your own due diligence before trading or investing. Thanks to Optionsxpress for the charts.
Daily
Weekly
Monthly
** This blog is used for informational purposes only. It should not be used as a recommendation to buy or sell any security. Do your own due diligence before trading or investing. **
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