Great financials for the past few years, never missed a quarterly report in the past 2 years and several brokerage house price upgrades. I thought it would go a lot higher (still think it will) but their report missed and this trade was down about 60% at one point. With options time decay for the expiration month upon me, I was super happy to get out with a positive trade. It's still climbing but I don't care, don't look back on a GREEN trade.
This was just downgraded yesterday and the market was down. So I figured this would be a good short set up, but I was wrong. I was going to go down a little and it did. I added a little bit more to my position to hedge my losses, which is a bad idea.
Entry comments: I bought this stock straight up instead of playing a wheel because it goes ex dividend tomorrow, I sold a covered call already on it. It appeared to be bouncing off the monthly pivot which is why I bought at the price I did. It now has fallen below the monthly pivot so I will need to be managing this one throughout the next couple weeks most likely. However tomorrow it is ex dividend with a $1.10 dividend so between that and the covered call I have lowered my break even price significantly.
Exit comments: called away.
Entered Call based on tip from "War Room" and rising price. Stock reversed OTM and sold to cut losses.
high dollar for me, SWING attempt, out @my 230 price target definitely need more practice
Very nice trade. Wanted to hold longer, but tough to not lock in +100%
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