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This was a call credit spread on the thesis that Gold was over extended. Short strike was 470. Long strike was 472.
This one had a strong close finishing at 52 week highs so I tried to swing it. I waited for a late entry trying to see if they would do an offering before entering. Wasn't very happy with the lack of volume pre-market and it had a weak push at the open and got stuffed under 8.50 so I decided to cut it instead of waiting it out.
CABA had a decent 1 year chart that looked like it could sustain a spike. 5 minute chart showed a nice morning spike with a VWAP hold. Float was slightly high at 84mil, but short interest was decent at 22%. Entered at VWAP test and hold and exited on strong push above high of day.
Avoid long entries when: The stock is extended into prior supply VWAP is lost and not reclaimed The sector is AI SaaS / crypto / PR fluff Favor long entries when: Daily is clean above all supply Float is low AND sector tends to trend You get first pullback + VWAP reclaim Volume is building into higher lows, not into resistance
Never attempt to copy or mirror the trades discussed on this website or in alerts. Attempting to do so may result in substantial financial losses. Alerts are not provided in real-time. For that reason, it is highly unlikely you will be able to buy the stocks at the same entry price, or sell the stocks at the same exit price, to achieve the same or similar profits obtained.
