Wednesday, November 20, 2013

Added more TBT call contracts

TBT retraced about 5 days after my recent purchase of its 2014 Jun$73 call, then it started to resume up trend from yesterday. I liked its orderly pullback and the current upward candle today. So I doubled my long contracts by adding June$74c on TBT at a mid price of $7.70.

I'm considering raising my stop loss point to somewhere below the upper line of the recent downtrending channel if case the trade works against me.

I also prefer to wait a couple of more weeks before I consider selling calls to convert this trade to diagonal spread, unless the price and volume action change significantly from current trend.

Created with ProphetCharts®

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