Entry comments: PBF is an energy stock, which is a very bullish sector. Trading above the 10 month SMA so is in buy zone. Trading below the upper Keltner channel, so is not overbought. $9.30 premium satisfies the 1% rule, as the intrinsic value of option is 9.30, (stock price is 31.30) giving it no time value. As it goes up, I start to profit!
Exit comments: Another Friday and the market istanking again. This option was stagnant for 2 days, and started to drop this morning. Time to exercise Rule #1. Cut my loss quickly
Broker:Questrade
| Date | Price | |
|---|---|---|
| Entry | 5/4/2022 | 9.30 |
| Exit | 5/6/2022 | 9.00 |
- Total Views54
- Position Size1
- Percentage-3.23%
- Option TypeCALL
- Strike22.0
- Expiration5/20/2022
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