An example of bull pullback pattern trade on XHB

Today, I exited the option call June 15, 2018 $44 on XHB when it passed my original target price and then pulled back as shown in the chart below. With the market's relentless rising, I'm in a wait and see attitude to enter new bullish trades.

The XHB was a 36 day position trade that worked out perfectly with a profit of 69% since its entry. On January 5, I rolled up and out for the original call of March 16 $42 to June 15 $44, as the option delta reached 0.8 to take some profits off. Since then there was only one time of a 2 consecutive day price drop. XHB just followed the SPX general market for a month, not outperforming or under-performing.

Trading STLD call over last 6 weeks

I traded STLD long call over the last 41 days. After entering the bull pullback pattern on late November, STLD basically kept rising along with the extremely bullish market. It had not dropped in price for 2 consecutive days in this time frame.

After STLD May 18, 2018 Call $36 had its delta reaching over 0.80, I rolled it up to May 18 $41 call strike so that I could take some profits off the table. It rested for a few days and made another leg up.

Considering it's close the earnings report day more than 1 week later and it fell to undercut the low of the last two days, I decided to exit this position today as shown in the chart.

11/29/2017	BUY	18-May-18	36	4.1	Open
12/20/2017	SELL	18-May-18	36	8.06	Close
12/20/2017	BUY	18-May-18	41	4.5	Open
1/9/2018	SELL	18-May-18	41	5.8	Close

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