“When the market is very volatile, option prices are very expensive especially going into an earnings event like AAPL was. I found it very hard to believe that AAPL would trade higher than $235 or lower than $200 after earnings, which is roughly where my breakeven prices were. Becoming comfortable selling options instead of only buying them is probably the biggest thing I have learned as I’ve become a profitable trader.”
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+$7134 on USO
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VTVT – Shares recovered most of Wednesday’s gap and bounced off the $2.17 low nicely to close at $2.66. I’ll be watching the real body range from Thursday between $2.66 – $285 as my buy zone and looking for profit between there and the middle $3’s, or Wednesday’s closing price. If it climbs above the middle $3’s it could get very interesting.
SNAP – Hammer time! CEO touted a plan for profitability and shares are up a bit premarket around $8. In play above $7.80 candle over candle style, playing the oversold bounce for about $.50 a share. I tend to go big on trades like this due to the ATR and look for a smaller percent gain.
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VXRT – News winner Thursday sent shares flying and if they hold above $5 Friday morning there’s a very good chance a nice profit will land in my portfolio before the weekend Goal would be 10%+ today if this works, monitoring $5 as my pivot or coming back to it next week in the low $4’s playing Fibonacci, as seen on the chart.
IGC – Pure momentum pump and dump here but if it holds $5 after the damning MarketWatch article I’ll be watching for a day trade on it playing the retracement and Friday short squeeze. Shares are down another 20% premarket in the low $5’s, hence watching that $5 range for the trade, goal is 10-20% Friday and out with profit before the weekend.
[Ed. Note: Jason Bond runs JasonBondPicks.com and is a swing trader of small-cap stocks. In 2015 he earned a 180% return on his money. Then in 2016 he turned a $100,000 account into $430,000!Discover How He Did It]