I'm waiting for an entry here. I had a line drawn at $527.35 and it's coming up to that and cannot seem to move past it. I do not want to be buying my Sep540C at $12+ or on the move up, rather on a pullback. What looks to be a good place for it to pullback to is the 20 EMA as well as around $521.25. At that, the option should be around $8.50-$10, which is more reasonable for me. I would only be getting in one contract.

It's now crossed below the 20 EMA and heading towards $521.25 at 2 hrs 40 min. in the market. We'll see. I'll be patient. It should settle around here and then I will put a contingent order to get in around $522 as it moves back on up.

However, it's nearly lunchtime on the east coast, in about 15 min., so we'll see how much action there is.
Labels: edit post
0 Responses

Amazon Store