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.
Created with ProphetCharts®
No comments:
Post a Comment